Nigeria's money market funds hit N5.97 trillion NAV as top funds yield over 20%

Nigeria's money market fund segment expanded to N5.97 trillion net asset value as of June 26, 2026, up 2.26% from N5.84 trillion in May, per SEC data compiled by Nairametrics. The 47-fund segment now represents 65.52% of total mutual fund assets and serves 800,050 unitholders—a 3.73% increase from May—reinforcing its role as a key entry point into Nigeria's capital market for retail and institutional investors seeking stable returns.

Investor demand for safety and liquidity continues driving growth, with attractive yields persisting in fixed income space. The top 10 performing money market funds by YTD yield range from 18.25% to 20.54%, led by Coronation Money Market Fund at 20.54%. An investor who placed N5 million in Coronation MMF at year-start would have approximately N6.03 million by June 26, 2026 (N1,027,000 returns). Other top performers include RT Briscoe (20.30%), First Ally (20.01%), and STL (19.70%) funds.

Despite the segment's size, it remains highly fragmented—the top 10 funds manage just N188.64 billion (3.16% of total MMF assets), indicating widespread distribution across numerous funds. Unit prices vary from N1.00 to N1,000 across funds, with most offering low-risk, liquid vehicles for capital preservation.

With money market funds delivering double-digit yields while prioritizing safety, should you allocate part of your portfolio to these instruments for stable returns, or do you prefer higher-risk investments despite current market volatility?

SOURCE: https://nairametrics.com/2026/07/10/best-performing-money-market-funds-in-nigeria-as-of-june-2026/