Nigeria’s Money Market Funds Hit N5.97trn As Investor Demand For Safe Returns Rises

Nigeria’s money market fund segment grew to a net asset value of N5.97 trillion as of June 26, 2026, up 2.26 per cent from N5.84 trillion in May.
A money market fund is a type of low-risk mutual fund that pools money from various investors to invest in short-term, highly liquid debt securities such as government Treasury bills, commercial papers, and fixed bank deposits. It is designed to preserve capital while providing steady, competitive interest returns.
Data from the Securities and Exchange Commission (SEC) showed that the segment still comprises 47 funds, accounting for 65.52 per cent of Nigeria’s total mutual fund assets, with unitholders rising to 800,050 as investors seek liquidity and stable yields amid attractive fixed-income rates.
Analysts noted that “the growth underscores sustained investor appetite for safe and stable returns amid persistent attractive yields in the fixed-income space. Money market funds, which invest in short-term, high-quality securities, remain the preferred vehicle for both retail and institutional investors seeking liquidity alongside competitive returns.”
The appeal of the segment has been buoyed by double-digit yields, with the top 10 funds all posting year-to-date returns above 18 per cent as of June 26, 2026.
Coronation Money Market Fund, managed by Coronation Asset Management Limited, led the ranking with a year-to-date yield of 20.54 per cent. RT Briscoe Savings & Investment Fund, managed by DLM Asset Management Limited followed with a YTD yield of 20.30 per cent, while First Ally Money Market Fund posted a 20.01 per cent YTD yield.
Other top performers include STL Money Market Fund at 19.70 per cent, DLM Money Market Fund at 19.68 per cent, Trustbanc Money Market Fund at 19.40 per cent, and Page Money Market Fund at 19.00 per cent.
Greenwich Plus, Zedcrest, and CardinalStone Money Market Funds completed the top 10 with yields of 18.81 per cent, 18.68 per cent, and 18.25 per cent respectively.
Market analysts noted that “the continued inflow into money market funds reflects investors’ preference for capital preservation in a volatile environment. The funds offer daily liquidity while allowing investors to benefit from prevailing high interest rates without locking in for long tenors.
“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.”
With interest in short-term instruments expected to remain strong, money market funds are likely to maintain their dominance in Nigeria’s mutual fund landscape heading into the second half of 2026.