| Nigeria: Investments in Mutual Funds Rise 80.8 Percent to N4.1trn
February 4, 2025--The appetite of Nigerian investors for Mutual Funds has surged with its total asset under management increasing by 80.8% Year on Year, YoY, to N4.1 trillion on January 24, 2025 from N2.3 trillion in the corresponding period 2024.
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| Data released by the Securities and Exchange Commission (SEC), has shown that Money Market Funds were the most patronised as it recorded the highest asset value of N1.887 trillion and accounted for 45.81% of the total Net Asset Value, NAV of the Mutual Funds.
Stanbic IBTC Asset Management's Money Market Fund was the most active accounting for 45.83% of the Fund's NAV. Following it was FBNQuest recording 20.43% of the NAV, while Cardinalstone Money Market Fund accounted for 7.5% of the NAV. |