Follow Us on Google Discover
Nigeria’s money market fund segment expanded to a net asset value (NAV) of N5.84 trillion as of May 29, 2026, up 2.73% from N5.68 trillion recorded in April.
Data compiled by the Nairametrics Research team from the Securities and Exchange Commission (SEC) showed that the segment still comprises 47 funds, accounting for 64.75% of Nigeria’s total mutual fund assets.
Investor demand for safe and stable returns continues to shape the market, with capital flowing steadily into instruments that prioritize preservation and reliability.
Money market funds, which focus on short-term, high-quality securities, remain a favored choice for both retail and institutional investors seeking liquidity while earning competitive returns.
Also Read
Interest in the segment has grown further as attractive yields persist in the fixed-income space, encouraging investors to maintain liquidity while benefiting from favorable short-term gains.
What the data is saying
Money market funds continue to draw strong participation from both retail and institutional investors, highlighting their appeal as stable, liquid, and low-risk investment vehicles.
- The segment now serves 771,265 unitholders, an additional 37,963 unitholders or a 5.18% increase from April, reinforcing its role as a key entry point into Nigeria’s capital market.
- Despite the size of the segment, the top 10 performing money market funds collectively manage N255.82 billion, representing just 4.38% of total money market fund assets and 2.84% of the overall mutual fund industry.
Top 10 performing money market funds by YTD yield
Rankings are based on SEC-reported year-to-date yields as of May 29, 2026.
10. Coral Money Market Fund (18.28%)
Rounding out the top ten, the Coral Money Market Fund, managed by FSDH Asset Management Ltd, delivered a YTD yield of 18.28%.
Launched in June 2019, the fund is part of the FSDH Asset Management ecosystem, led by Managing Director Toyin Owolabi. It manages N101.99 billion in assets, serves 6,276 unitholders, and trades at N100 per unit, offering investors a stable and liquid investment option.
9. CardinalStone Money Market Fund (18.65%)
The CardinalStone Money Market Fund, managed by CardinalStone Asset Management Limited, posted a YTD yield of 18.65%.
Since its launch in October 2024, the fund has been part of the CardinalStone Asset Management platform, headed by Managing Director Oluwaseyi Osunlalu. It manages N28.57 billion in assets, serves 1,913 unitholders, and has a unit price of N1.00, providing a low-risk investment vehicle for both retail and institutional investors.
8. Greenwich Plus Money Market Fund (18.67%)
The Greenwich Plus Money Market Fund, managed by Greenwich Asset Management Limited, recorded a YTD yield of 18.67%.
The fund is part of Greenwich Merchant Bank Group, led by Group Chief Executive Officer Benson Ogundeji following the group’s transition from Greenwich Trust Limited into a merchant banking institution.
It manages N13.46 billion in assets and serves 1,093 unitholders, with units priced at N100.
7. Trustbanc Money Market Fund (18.73%)
The Trustbanc Money Market Fund, managed by Trustbanc Asset Management Limited, ranks seventh with a YTD yield of 18.73%.
The fund is owned by Trustbanc Group, led by Group Managing Director and Chief Executive Officer Abubakar Jimoh. It manages N17.56 billion in assets and serves 936 unitholders, with units priced at N1.00.
6. Page Money Market Fund (18.79%)
The Page Money Market Fund, managed by Page Asset Management Limited, recorded a YTD yield of 18.79%.
The fund, launched in 2018, is part of Page Asset Management Limited, led by Group Chief Executive Officer Toyin Akinde. It manages N1.99 billion in assets and serves 271 unitholders, with units priced at N1.00.
5. Myrtle Mynest Money Market Fund (19.01%)
The Myrtle Mynest Money Market Fund, managed by Myrtle Asset Management Limited, delivered a YTD yield of 19.01%.
The fund, introduced in 2026, is part of Myrtle Asset Management & Trust Limited, led by Chief Executive Officer Oluwaseun Adesoye. It manages N464.64 million in assets and serves 298 unitholders, with units priced at N1.00.
4. STL Money Market Fund (19.49%)
Coming in fourth is the STL Money Market Fund, managed by STL Asset Management Limited, with a YTD yield of 19.49%.
The fund is backed by STL Trustees Limited, led by Managing Director and Chief Executive Officer Funmi Ekundayo. Since its launch in 2024, the fund has positioned itself as a liquidity-focused investment vehicle targeting both retail and institutional investors.
It manages N15.28 billion in assets and serves 1,666 unitholders, with units priced at N100.
3. DLM Money Market Fund (20.12%)
The DLM Money Market Fund, managed by DLM Asset Management Limited, ranks third with a YTD yield of 20.12%.
The fund is part of DLM Capital Group, founded and led by Group Chief Executive Officer Sonnie Ayere. It manages N1.67 billion in assets and serves 141 unitholders, with units priced at N1,000.
2. Coronation Money Market Fund (20.15%)
The Coronation Money Market Fund, managed by Coronation Asset Management Limited, recorded a YTD yield of 20.15%.
The fund sits within Coronation Asset Management, under the leadership of Managing Director Aigbovbioise Aig-Imoukhuede. It manages N74.46 billion in assets across 17,869 unitholders at a unit price of N1.00.
1. RT Briscoe Money Market Fund (20.87%)
Leading the ranking is the RT Briscoe Money Market Fund, managed by DLM Asset Management Limited, with a YTD yield of 20.87%.
The fund, launched in 2024, is backed by RT Briscoe Nigeria Plc, led by Group Managing Director Seyi Onajide. With N340.59 million in assets under management and 32 unitholders, the fund trades at N1,000 per unit.
What you should know
According to an earlier article published by Nairametrics on money market fund performance in April 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 47 funds managing a combined N5.68 trillion, accounting for 64.83% of total industry assets.
- The segment served 733,302 unitholders, reinforcing its role as a primary entry point for retail and institutional investors into the capital market.
- Despite its size, the segment remained highly fragmented. The top 10 performing funds collectively accounted for just N121.83 billion, representing 2.14% of the money market category and 1.39% of total mutual fund assets, indicating that assets were widely distributed across numerous funds.
- The top three funds in April (RT Briscoe Money Market Fund, DLM Money Market Fund, and STL Money Market Fund) stood out, delivering some of the highest yields in the category.
