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Nigeria’s money market fund segment expanded to a net asset value of N6.44 trillion as of August 28, 2026, up 2.66% from N6.27 trillion recorded in July, adding approximately N167.09 billion in assets as investor appetite for stable, liquid returns continued to support steady growth in the segment.
Securities and Exchange Commission (SEC) data reviewed by Nairametrics Research reveals that the segment comprises 48 funds and accounts for 67.78% of Nigeria’s total mutual fund assets, which stood at N9.50 trillion as of the reference date.
Investor demand for relatively 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, relatively low-risk and liquid investment vehicles.
The segment now serves 878,413 unitholders, reflecting an increase of 31,480 unitholders or 3.72% from 846,933 recorded in July, continuing the steady growth in participation recorded in recent months.
Despite the size of the segment, the top 10 performing money market funds collectively manage N205.94 billion, representing 3.20% of total money market fund assets and 2.17% of the overall mutual fund industry.
Top 10 performing money market funds by YTD yield
10. Apel Wealth Money Market Fund (18.59%)
The Apel Wealth Money Market Fund, managed by Apel Wealth Management Limited, recorded a YTD yield of 18.59%, making a new entry into the top 10 in August 2026.
The fund is owned by Apel Group, led by Group Chief Executive Officer Peter Aletor. The fund manages N1.94 billion in assets and serves 217 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 N929,500 in returns, bringing their total to N5,929,500.
9. Page Money Market Fund (18.71%)
The Page Money Market Fund, managed by Page Asset Management Limited, recorded a YTD yield of 18.71%, returning to the top 10 in August 2026 after last featuring in the June ranking.
The fund is led by Managing Director Toyin Akinde. The fund manages N2.34 billion in assets and serves 319 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 N935,500 in returns, bringing their total to N5,935,500.
8. Trustbanc Money Market Fund (18.90%)
The Trustbanc Money Market Fund, managed by Trustbanc Asset Management Limited, recorded a YTD yield of 18.90%, slipping two places from sixth in July.
The fund is owned by Trustbanc Group, led by Group Managing Director and Chief Executive Officer Abubakar Jimoh. It manages N20.68 billion in assets and serves 1,100 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 N945,000 in returns, bringing their total to N5,945,000.
7. STL Money Market Fund (19.06%)
The STL Money Market Fund, managed by STL Asset Management Limited, recorded a YTD yield of 19.06%, rising one place from eighth in July.
The fund is backed by STL Trustees Limited, led by Managing Director and Chief Executive Officer Funmi Ekundayo. It manages N19.31 billion in assets and serves 2,105 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 N953,000 in returns, bringing their total to N5,953,000.
6. CardinalStone Money Market Fund (19.16%)
The CardinalStone Money Market Fund, managed by CardinalStone Asset Management Limited, recorded a YTD yield of 19.16%, rising four places from tenth in July to claim the biggest ranking gain among the funds that appeared in both months.
The fund is part of CardinalStone Group, led by Group Managing Director Michael Nzewi. It manages N38.38 billion in assets and serves 2,651 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 N958,000 in returns, bringing their total to N5,958,000.
5. Greenwich Plus Money Market Fund (19.75%)
The Greenwich Plus Money Market Fund, managed by Greenwich Asset Management Limited, recorded a YTD yield of 19.75%, slipping one place from fourth in July despite its return improving by 0.64 percentage points from 19.11%.
The fund is part of Greenwich Merchant Bank Group, led by Group Chief Executive Officer Benson Ogundeji. It manages N15.69 billion in assets and serves 1,163 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 N987,500 in returns, bringing their total to N5,987,500.
4. RT Briscoe Savings & Investment Fund (19.92%)
The RT Briscoe Savings & Investment Fund, managed by DLM Asset Management Limited, recorded a YTD yield of 19.92%, slipping one place from third in July.
The fund is backed by RT Briscoe Nigeria Plc, led by Group Managing Director Seyi Onajide. It manages N513.97 million in assets and serves 71 unitholders, with units priced at N1,000, the smallest net asset value and fewest unitholders among the ten funds in this ranking.
An investor who placed N5 million in this fund at the start of the year would have earned approximately N996,000 in returns, bringing their total to N5,996,000.
3. Myrtle Nest Money Market Fund (20.29%)
The Myrtle Nest Money Market Fund, managed by Myrtle Asset Management Limited, recorded a YTD yield of 20.29%, rising two places from fifth in July and posting the largest month-on-month YTD gain among all ten funds at 1.20 percentage points.
The fund is backed by Myrtle Asset Management Limited, led by Chief Executive Officer Oluwaseun Adesoye. It manages N833.77 million in assets and serves 391 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 N1,014,500 in returns, bringing their total to N6,014,500.
2. DLM Money Market Fund (20.51%)
The DLM Money Market Fund, managed by DLM Asset Management Limited, recorded a YTD yield of 20.51%, slipping from first place in July to second in August as its return eased slightly by 0.18 percentage points from 20.69%.
The fund is part of DLM Capital Group, led by Group Chief Executive Officer Sonnie Ayere. It manages N2.66 billion in assets and serves 406 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 N1,025,500 in returns, bringing their total to N6,025,500.
1. Coronation Money Market Fund (21.11%)
Leading the ranking is the Coronation Money Market Fund, managed by Coronation Asset Management Limited, with a YTD yield of 21.11%, rising from second place in July to claim the top position in August with a 0.89 percentage point improvement in its return.
The fund sits within Coronation Asset Management, under the leadership of Managing Director Aigbovbioise Aig-Imoukhuede. It manages N103.60 billion in assets across 21,692 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 N1,055,500 in returns, bringing their total to N6,055,500, the highest return among the ten funds in this ranking.
What you should know
A review of the money market fund segment in July 2026 revealed several trends that set the stage for the performance recorded in August.
The money market fund category managed a combined N6.27 trillion, accounting for 66.74% of total industry assets, serving 846,933 unitholders.
The top 10 performing funds in July collectively accounted for N215.82 billion, representing 3.44% of the money market category and 2.30% of total mutual fund assets.
The top three funds in July, the DLM Money Market Fund, the Coronation Money Market Fund, and the RT Briscoe Savings & Investment Fund, delivered YTD yields of 20.69%, 20.22% and 20.13% respectively.
