Investor appetite for stability continues to define Nigeria’s mutual fund landscape, with capital steadily flowing into instruments that offer safety and consistent returns.
In recent months, this trend has become even more pronounced as investors continue to reposition portfolios in response to persistently high yields on short-term instruments.
At the center of this shift are money market funds, which have maintained their appeal as a reliable option for both new and experienced investors.
Money market funds are low-risk, open-ended investment vehicles designed to provide capital preservation and steady income through investments in high-quality short-term instruments.
The top-performing mutual funds recorded a YTD yield between 17%-20%. This reflects the performance of the underlying asset yields, which moderated. While the Nigerian treasury bill has moderated around 16% and OMO bills have steadied around 19%, commercial papers are as high as 20-22%.
A new fund named Alpha10 Money Market Fund, managed by Alpha10 Fund Management Limited, recently registered with the SEC, was added in March with 147 unitholders and N1.77 billion.
According to data compiled by the Nairametrics Research team from the Securities and Exchange Commission (SEC), as of 27th March 2026, the segment had grown to 46 funds managing a combined N5.46 trillion net asset value (NAV), representing 64.90% of total mutual fund assets.
This strong positioning reflects a broader strategy among investors to remain liquid while still capturing competitive yields from short-term securities.
Leading the ranking is the STL Money Market Fund, managed by STL Asset Management Limited, with a YTD yield of 20.24%.
With N10.67 billion in assets under management and 1,309 unitholders, the fund trades at N100 per unit.
Its strong performance places it at the top of the money market category for March 2026.
What you should know
According to an earlier article published by Nairametrics on money market fund performance in February 2026, several key trends defined the structure and behavior of the category.
- The money market fund category was the largest segment within Nigeria’s mutual fund industry, with 45 funds managing a combined N5.29 trillion, accounting for 64.18% of total industry assets.
- The segment also had one of the broadest investor bases, with 671,714 unitholders, reinforcing its role as a primary entry point for retail investors into the capital market.
- Despite its size, the segment remained highly fragmented. The top 10 performing funds collectively accounted for just N197.8 billion, representing 3.74% of the money market category and 2.40% of total mutual fund assets, indicating that assets were widely distributed across numerous funds.
- The top three funds, RT Briscoe Savings & Investment Fund, Page Money Market Fund, and STL Money Market Fund, stood out in February, delivering some of the highest yields in the category. Notably, RT Briscoe led by a wide margin with a 24.33% return, significantly outperforming peers, while Page and STL also posted strong yields above 20%.
