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Stanbic, ARM, FBNH top N1.2trn mutual funds in Nigeria

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Stanbic, ARM, FBNH top breakdown of N1.2 trillion active mutual funds in Nigeria
The mutual fund (collective investment scheme) market has grown exponentially in recent years in Nigeria leading to total assets under management (Aum) hitting the N1.2trillion mark last month.
Here is a breakdown of the net asset value (NAV) of funds as at May 15th, 2020, the latest data available.
Money Market Funds
Money market funds with NAV equivalent N816.8 billion was the major driver of growth of mutual funds in Nigeria.
There were a total of 22 active money market funds with Stanbic IBTCs fund the largest, followed by FBNH and AXA.
Money market funds made up 67.12 percent of all funds.
Fixed Income Funds
Fixed income funds control 17.26 percent of assets with the largest being the Stanbic IBTC dollar fund with 48 percent of all assets under this category.
This is followed by Stanbic IBTC Absolute fund and Stanbic Guaranteed fund. There are 20 currently active fixed income funds.
Bond Funds
There are 9 active bond funds equivalent to 8.92 percent of mutual fund assets.
The largest is the United Capital Bond fund with 27 percent of assets in this category. This is followed by the United Capital Euro bond fund and FBN Fixed income fund.
Real Estate Funds
There are 3 active real estate funds with 3.7 percent of assets under management. UPDC (72%), Union homes (22%) and SFS REIT (5%) make up the list.
Mixed Funds
There are 20 mixed funds with 1.84 percent of assets. The largest is value alliance value fund with (19.9 %) of assets, followed by ARM Discovery fund (14.54%), and FBN Nigeria balanced fund (12%).
Equity Based Funds
There are 13 equity based funds equivalent to 0.81 percent of total mutual fund funds, with the largest being the Stanbic IBTC Nigerian Equity Fund with 43 percent of assets, which is also the oldest in the industry.
This is followed by ARM aggressive growth fund, with 20.57 percent, and United Capital Equity fund at 11.43 percent.
Ethical Funds
There are 5 active ethical funds equivalent to 0.35 percent of assets. The largest of which is the Lotus Halal investment fund at 53 percent of assets. This followed by StanBic IBTC Ethical fund (25.82%), and Zenith Ethical Fund (11.8%).
ETFs
There are 10 listed Exchange Traded Funds or ETFs. The VG 30 ETF is the largest, followed by the New Gold ETF and Vetiva S&P Nigeria sovereign bond ETF.

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