Nigeria’s money market fund segment expanded to a net asset value (NAV) of N5.68 trillion as of April 24, 2026, up from N5.45 trillion recorded in March.

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Data compiled by the Nairametrics Research team from the Securities and Exchange Commission (SEC) showed that the segment now comprises 47 funds, accounting for 64.83% of Nigeria’s total mutual fund assets.

The market continues to be driven by strong investor preference for stability, as capital flows steadily into low-risk instruments offering capital preservation and consistent returns.

Money market funds, which invest in high-quality short-term securities, have remained attractive to both retail and institutional investors seeking liquidity alongside competitive yields.

Investor interest in the asset class has strengthened further amid persistently elevated yields in the fixed-income market, reflecting a broader portfolio strategy focused on maintaining liquidity while taking advantage of attractive short-term returns.

The segment also welcomed a new entrant in April, the Myrtle Mynest Money Market Fund managed by Myrtle Asset Management Limited, bringing the total number of registered money market funds in Nigeria to 47.

What the data is saying 

Beyond their asset size, money market funds continue to attract a broad investor base across retail and institutional segments.

  • Data indicates that the category now serves 733,302 unitholders, an additional 30,591 unitholders or a 4.35% increase from March, reinforcing its role as a key entry point into Nigeria’s capital market.
  • Despite the size of the segment, the top 10 performing money market funds collectively manage N121.83 billion, representing just 2.14% of the total money market fund assets and 1.36% of the overall mutual fund industry.

Top 10 performing money market funds by YTD yield

SCM Capital Money Market Fund (17.72%)

Rounding out the top ten is the SCM Capital Money Market Fund, managed by SCM Capital Limited, with a YTD yield of 17.72%.

The fund, launched in 2025, is owned by SCM Capital Asset Limited, led by Group Managing Director and CEO Gaventa Otono. It manages N2.14 billion in assets and serves 345 unitholders, with units priced at N1.00.

First Ally Money Market Fund (17.95%)

The First Ally Money Market Fund, managed by First Ally Asset Management Limited, recorded a YTD yield of 17.95%.

The fund is part of the First Ally Capital ecosystem.  First Ally Asset Management Limited is led by Chief Executive Officer Olumayowa Ogunwemimo. It manages N6.21 billion in assets and serves 2,272 unitholders, with units priced at N1.00.

Myrtle Mynest Money Market Fund (18.12%)

The Myrtle Mynest Money Market Fund, managed by Myrtle Asset Management Limited, delivered a YTD yield of 18.12%.

The fund, introduced in 2026, is part of Myrtle Asset Management & Trust Limited, led by Chief Executive Officer Oluwaseun Adesoye. It manages N442.36 million in assets and serves 236 unitholders, with units priced at N1.00.

Page Money Market Fund (18.69%)

The Page Money Market Fund, managed by Page Asset Management Limited, recorded a YTD yield of 18.69%.

The fund, launched in 2018, is part of the Page Asset Management Limited ecosystem led by Group Chief Executive Officer Toyin Akinde. The fund is structured to preserve capital while delivering stable and competitive returns through diversified money market investments.

It manages N1.71 billion in assets and serves 246 unitholders, with units priced at N1.00.

Greenwich Plus Money Market Fund (18.81%)

The Greenwich Plus Money Market Fund, managed by Greenwich Asset Management Limited, recorded a YTD yield of 18.81%.

The fund which was founded in 2016, forms part of Greenwich Merchant Bank Group, led by Group Chief Executive Officer Benson Ogundeji following the group’s transition from Greenwich Trust Limited into a merchant banking institution.

It manages N13.94 billion in assets and serves 1,077 unitholders, with units priced at N100.

 Trustbanc Money Market Fund (18.84%)

The Trustbanc Money Market Fund, managed by Trustbanc Asset Management Limited, ranks fifth with a YTD yield of 18.84%.

The fund is owned by Trustbanc Group, led by Group Managing Director and Chief Executive Officer Abubakar Jimoh. The fund is designed to provide safety, liquidity, diversification, and attractive returns through investments in high-quality short-term instruments.

It manages N16.04 billion in assets and serves 883 unitholders, with units priced at N1.00.

Coronation Money Market Fund (19.36%)

The Coronation Money Market Fund, managed by Coronation Asset Management Limited, posted a YTD yield of 19.36%.

The fund, part of the Coronation Group, is led by Managing Director/CEO Aigbovbioise Aig-Imoukhuede. Coronation Group has remained one of Nigeria’s leading investment banking and asset management institutions following the transformation of the former Associated Discount House into Coronation Merchant Bank.

It manages N66.19 billion in assets and serves 16,855 unitholders, with units priced at N1.00.

STL Money Market Fund (19.41%)

Coming in third is the STL Money Market Fund, managed by STL Asset Management Limited, with a YTD yield of 19.41%.

The fund is backed by STL Trustees Limited, a financial services group led by Managing Director and Chief Executive Officer Funmi Ekundayo. Since its launch in 2024, the fund has positioned itself as a liquidity-focused investment vehicle targeting both retail and institutional investors.

With N13.54 billion in assets under management and 1,508 unitholders, the fund trades at N100 per unit.

DLM Money Market Fund (20.52%)

The DLM Money Market Fund, managed by DLM Asset Management Limited, ranks second with a YTD yield of 20.52%.

The fund is part of DLM Capital Group, founded in 2025 and led by Group Chief Executive Officer Sonnie Ayere. Since launching its asset management operations, the group has expanded its presence across investment banking, structured finance, and wealth management.

The fund is structured to provide investors with safety, liquidity, diversification, and competitive returns through short-term money market instruments.

It manages N1.49 billion in assets and serves 120 unitholders, with units priced at N1,000.

RT Briscoe Money Market Fund (23.41%)

Leading the ranking is the RT Briscoe Money Market Fund, managed by DLM Asset Management Limited, with a YTD yield of 23.41%.

The fund, launched in 2024, is backed by RT Briscoe Nigeria Plc, one of Nigeria’s oldest automobile and industrial equipment companies, led by Group Managing Director Seyi Onajide. The launch of the fund marked the company’s expansion into investment-linked financial products in partnership with DLM Capital Group.

With N123.63 million in assets under management and 30 unitholders, the fund trades at N1,000 per unit.

Its outstanding performance places it at the top of Nigeria’s money market fund category for April 2026.

What you should know 

According to an earlier article published by Nairametrics on money market fund performance in March 2026, several key trends defined the structure and behavior of the category.

  • The money market fund category was the largest segment within Nigeria’s mutual fund industry, with 46 funds managing a combined N5.45 trillion, accounting for 64.90% of total industry assets.
  • The segment served 702,711 unitholders, reinforcing its role as a primary entry point for retail investors into the capital market.
  • Despite its size, the segment remained highly fragmented. The top 10 performing funds collectively accounted for just N145.42 billion, representing 2.67% of the money market category and 1.68% of total mutual fund assets, indicating that assets were widely distributed across numerous funds.
  • The top three funds, STL Money Market Fund, Trustbanc Money Market Fund, and Page Money Market Fund, stood out in March, delivering some of the highest yields in the category. Notably, STL led with a 20.24% return, while Trustbanc and Page also posted strong yields above 19%.