Even the fund manager stands to gain from transparency in reporting mutual fund activities.
The industry needs to be properly regulated and with proper enforcement...
Nigerian Mutual Funds do not make their financial reports public.
SEC stated that all the fund managers of collective investment schemes are to comply with the new rules.
SEC has been doing its best to publish, as often as it can, a compilation of the Net Asset Values of Nigerian mutual funds.
A review of the NAV Summary Report has disclosed that Nigerian mutual funds attracted N520,418,401,269.22, in contributions in 2019.
How to build a profitable Mutual Fund Portfolio
A guide to how Mutual Funds work in Nigeria
Though mutual funds are not as popular in Nigeria as stocks, a sizable number of investors keep purchasing them instead of individual stocks.
Buying mutual funds of similar characteristics, is a major reasons that people invest in mutual funds is diversification.