AfriPulse
Nigeria’s equity mutual fund segment continues to attract investors seeking higher returns and long-term capital appreciation despite the volatility associated with equities.
Compared to money market funds, equity mutual funds remain relatively smaller in terms of participation and assets under management, reflecting the conservative risk appetite of many Nigerian investors.
According to data compiled by the Nairametrics Research team from the Securities and Exchange Commission (SEC), as of April 2026, there are 20 equity mutual funds in Nigeria with a combined net asset value of N216.34 billion, accounting for 2.47% of the total mutual fund industry.
This represents a significant increase from N170.74 billion recorded in March 2026, highlighting renewed investor interest in equity-focused investment products amid strong stock market performance.
The equity-based funds are structured to provide long-term capital appreciation through investments in diversified portfolios of quoted equities across sectors such as banking, industrial goods, consumer goods, and oil and gas.
The top 10 performing equity mutual funds recorded year-to-date returns ranging from 48.99% to 83.73%, reflecting the strong rally witnessed in several Nigerian equities during the period.
Although the equity mutual fund category remains significantly smaller than the money market segment, it continues to play an important role in the investment landscape by providing investors with exposure to growth-oriented investment strategies and listed equities.
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11. What the data is saying
The equity mutual fund segment continues to witness increasing investor participation despite market volatility.
Data shows that the segment now has a total of 94,531 unitholders, up from 88,096 unitholders recorded in March 2026, indicating growing interest from both retail and institutional investors.
The top 10 performing equity funds collectively manage N88.31 billion as of April 2026, up from N79.16 billion recorded in March 2026. This represents 40.82% of the total equity mutual fund category.
Top 10 performing Equity Mutual Funds by YTD Return
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11. What the data is saying
Research Team
The Research Team at Nairametrics meticulously monitors, gathers, curates, and administers an extensive repository of both macroeconomic and microeconomic data originating from Nigeria and across Africa. Utilizing a variety of presentation formats—including documents, tables, and charts—our analysts disseminate key findings through the Nairametrics platform. Additionally, we regularly release insightful, research-driven articles that offer in-depth analyses of economic trends and indicators.
Source: Nairametrics | Read the Full Story…
