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Nigeria’s money market fund segment expanded to a net asset value (NAV) of N6.27 trillion as of July 31, 2026, up 4.96% from N5.97 trillion recorded in June, continuing its steady growth as investor demand for stable, liquid returns remained robust.
Data compiled by the Nairametrics Research team from the Securities and Exchange Commission (SEC) showed that the segment now comprises 48 funds, following the addition of Radix Money Market Fund as a new entrant, and accounts for 66.74% 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.
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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 returns.
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 846,933 unitholders, an additional 46,883 unitholders or a 5.86% increase from June, the largest monthly unitholder growth recorded in recent months, reinforcing the segment’s 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 N215.82 billion, representing 3.44% of total money market fund assets and 2.30% of the overall mutual fund industry.
Top 10 performing money market funds by YTD yield
10. CardinalStone Money Market Fund (18.36%)
Rounding out the top ten is the CardinalStone Money Market Fund, managed by CardinalStone Asset Management Limited, with a YTD yield of 18.36%, retaining its tenth position from June.
The fund manages N37.08 billion in assets and serves 2,417 unitholders, with a unit price of N1.00. An investor who placed N5 million in this fund at the start of the year would have earned approximately N918,000 in returns, bringing their total to N5,918,000.
9. Zedcrest Money Market Fund (18.59%)
The Zedcrest Money Market Fund, managed by Zedcrest Investment Managers Limited, posted a YTD yield of 18.59%, retaining its ninth position from June.
The fund is part of Zedcrest Group, led by Group Chief Executive Officer Adedayo Amzat. It manages N22.57 billion in assets and serves 9,460 unitholders, with a unit price of N1.00. An investor who placed N5 million in this fund at the start of the year would have earned approximately N929,500 in returns, bringing their total to N5,929,500.
8. STL Money Market Fund (18.81%)
The STL Money Market Fund, managed by STL Asset Management Limited, recorded a YTD yield of 18.81%, falling four places from fourth in June, the steepest ranking decline among the top 10 this month.
The fund is backed by STL Trustees Limited, led by Managing Director and Chief Executive Officer Funmi Ekundayo. It manages N18.77 billion in assets and serves 2,004 unitholders, with units priced at N100. An investor who placed N5 million in this fund at the start of the year would have earned approximately N940,500 in returns, bringing their total to N5,940,500.
7. Alpha10 Money Market Fund (18.86%)
The Alpha10 Money Market Fund, managed by Alpha10 Fund Managers Limited, recorded a YTD yield of 18.86%, making a new entry into the top 10 in July.
Launched in December 2025 and debuted in March 2026, the fund is part of Alpha10 Group, led by Managing Director and Chief Executive Officer Abigail Utomi. It manages N2.28 billion in assets and serves 228 unitholders, with a unit price of N1.00.
An investor who placed N5 million in this fund at the start of the year would have earned approximately N943,000 in returns, bringing their total to N5,943,000.
6. Trustbanc Money Market Fund (18.99%)
The Trustbanc Money Market Fund, managed by Trustbanc Asset Management Limited, recorded a YTD yield of 18.99%, retaining its sixth position from June.
The fund is owned by Trustbanc Group, led by Group Managing Director and Chief Executive Officer Abubakar Jimoh. It manages N18.13 billion in assets and serves 1,044 unitholders, with a unit price of N1.00. An investor who placed N5 million in this fund at the start of the year would have earned approximately N949,500 in returns, bringing their total to N5,949,500.
5. Myrtle Nest Money Market Fund (19.09%)
The Myrtle Nest Money Market Fund, managed by Myrtle Asset Management Limited, recorded a YTD yield of 19.09%, making a new entry into the top 10 in July.
Launched in 2026, the fund is managed by Myrtle Asset Management Limited, led by Chief Executive Officer Oluwaseun Adesoye. It manages N652.39 million in assets and serves 375 unitholders, with a unit price of N1.00.
An investor who placed N5 million in this fund at the start of the year would have earned approximately N954,500 in returns, bringing their total to N5,954,500.
4. Greenwich Plus Money Market Fund (19.11%)
The Greenwich Plus Money Market Fund, managed by Greenwich Asset Management Limited, recorded a YTD yield of 19.11%, rising four places from eighth in June, matching DLM as the joint biggest mover of the month.
The fund is part of Greenwich Merchant Bank Group, led by Group Chief Executive Officer Benson Ogundeji. It manages N15.19 billion in assets and serves 1,144 unitholders, with units priced at N100. An investor who placed N5 million in this fund at the start of the year would have earned approximately N955,500 in returns, bringing their total to N5,955,500.
3. RT Briscoe Savings & Investment Fund (20.13%)
The RT Briscoe Savings & Investment Fund, managed by DLM Asset Management Limited, recorded a YTD yield of 20.13%, slipping one place from second in June.
The fund is backed by RT Briscoe Nigeria Plc, led by Group Managing Director Seyi Onajide. It manages N520.46 million in assets and serves 63 unitholders, with units priced at N1,000. An investor who placed N5 million in this fund at the start of the year would have earned approximately N1,006,500 in returns, bringing their total to N6,006,500.
2. Coronation Money Market Fund (20.22%)
The Coronation Money Market Fund, managed by Coronation Asset Management Limited, recorded a YTD yield of 20.22%, slipping one place from the top spot it held in June.
The fund sits within Coronation Asset Management, under the leadership of Managing Director Aigbovbioise Aig-Imoukhuede. It manages N98.55 billion in assets across 20,347 unitholders at a unit price of N1.00, making it the largest fund in this ranking by assets under management and the most widely held among the top 10. An investor who placed N5 million in this fund at the start of the year would have earned approximately N1,011,000 in returns, bringing their total to N6,011,000.
1. DLM Money Market Fund (20.69%)
Leading the ranking is the DLM Money Market Fund, managed by DLM Asset Management Limited, with a YTD yield of 20.69%, rising four places from fifth in June to claim the top spot in July.
The fund is part of DLM Capital Group, led by Group Chief Executive Officer Sonnie Ayere. It manages N2.07 billion in assets and serves 317 unitholders, with units priced at N1,000. An investor who placed N5 million in this fund at the start of the year would have earned approximately N1,034,500 in returns, bringing their total to N6,034,500.
What you should know
A review of the money market fund segment in June 2026 revealed several trends that set the stage for the performance recorded in July.
The money market fund category managed a combined N5.97 trillion, accounting for 65.52% of total industry assets, serving 800,050 unitholders.
The top 10 performing funds in June collectively accounted for N188.64 billion, representing 3.16% of the money market category and 2.07% of total mutual fund assets.
The top three funds in June, the Coronation Money Market Fund, the RT Briscoe Savings & Investment Fund, and the First Ally Money Market Fund, delivered YTD yields of 20.54%, 20.30%, and 20.01% respectively.
