Nigeria’s equity mutual funds recorded robust year-to-date (YtD) performance as of October 2025, buoyed by a sustained rally in the equities market, according to latest data from the Securities and Exchange Commission (SEC).
The data show that total assets under management in the equity mutual fund segment rose to N79.94 billion, underscoring growing investor appetite for equity-focused collective investment schemes (CIS).
Equity mutual funds have emerged as the best-performing CIS category in Nigeria, significantly outperforming money market and fixed-income funds. While money market funds prioritise liquidity and capital preservation, and bond funds depend largely on interest income, equity funds benefit directly from share price appreciation, improved corporate earnings and heightened investor risk appetite.
During the review period, equity mutual funds delivered above-average YtD returns by capturing strong gains in select consumer and blue-chip stocks, supported by improving corporate fundamentals and increased participation from both retail and institutional investors.
The steady rise in net asset values (NAVs), alongside growth in unitholder numbers across leading funds, points to sustained confidence in equity-based investment strategies.
Top-performing equity mutual funds as of October 2025
10. Afrinvest Equity Fund
- YtD return: 53.52%
- Fund NAV: N4.46 billion
- Unitholders: 1,695
Afrinvest Equity Fund delivered a year-to-date return of 53.52 per cent in October 2025, up from 45.17 per cent in September, reflecting continued gains in the equities market.
The fund’s net asset value expanded to N4.46 billion, with a total of 1,695 unitholders. Its offer price stood at N614.15, while it accounted for about 5.58 per cent of the total equity mutual fund market.
The fund has sustained its performance through a diversified portfolio of large- and mid-capitalisation equities, providing investors with broad exposure to key segments of the Nigerian stock market.
Afrinvest Equity Fund is managed by Afrinvest Asset Management, the asset management subsidiary of Afrinvest West Africa Limited, a diversified financial services group with interests spanning asset management, securities trading, investment banking, research and consulting.
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