Nigeria’s mutual fund industry has continued to evolve as investors search for higher returns while navigating inflation, currency volatility, and changing interest-rate dynamics.
While conservative funds, such as money market and fixed-income mutual fund types, still dominate asset allocation, equity-based mutual funds remain the segment where the highest returns are typically generated.
As of February 2026, 20 equity-based mutual funds collectively manage N148.19 billion, representing 1.80% of the entire mutual fund industry, and a total of 79,757 unitholders.
Although the fund type is relatively small in size by the net asset value (NAV) compared to other fund categories, it remains critical for investors seeking long-term capital appreciation through exposure to the Nigerian stock market.
The strong performance of several equity funds reflects the broader rally in Nigerian equities in early 2026, particularly across banking, industrial, and energy stocks, which have driven much of the market’s gains.
Notably, the top 10 performing equity funds account for N67.51 billion in assets, representing 45.560% of the total equity-fund segment. This highlights a common pattern within the industry, where a relatively small group of funds often drives the strongest performance and investor interest.
Below is a closer look at the top 10 performing equity-based mutual funds by year-to-date (YTD) yield as of February 2026.
Following closely is the Guaranty Trust Equity Income Fund, which is managed by Guaranty Trust Fund Managers, posting a 28.68% YTD yield.
It typically invests in equities listed on the Nigerian Stock Exchange (NGX), and dividend‑paying companies aimed at long-term capital growth and periodic income.
With N12.76 billion in assets and 6,898 unitholders, the fund remains one of the more widely held equity mutual funds, contributing 8.61% to the total equity-based funds. Units trade between N5.12 and N5.15.
