Nigeria’s mutual fund market has started 2026 on a strong note, with several funds delivering impressive returns to investors within the first two months of the year.
According to the latest Weekly Net Asset Value (NAV) data released by the Securities and Exchange Commission (SEC), the top-performing funds recorded returns of at least 35 per cent between January and February 2026. Six of the funds delivered even stronger performances, posting returns between 87 per cent and 151 per cent.
The gains significantly outpaced Nigeria’s inflation rate of 15.10 per cent, ensuring positive real returns for investors. The list comprises five balanced funds, four equity funds and one Sharia-compliant balanced fund, most of which have significant exposure to equities listed on the Nigerian Exchange (NGX).
Below are the top 10 best-performing mutual funds in Nigeria so far in 2026:
- ARM Halal Balanced Fund – 151.23%
The ARM Halal Balanced Fund, managed by ARM Investment Managers Limited, leads the rankings with a 151.23 per cent return within the first two months of the year. The Sharia-compliant fund invests in NGX-listed equities and other Sharia-compliant investment instruments. Its assets grew from N4.46 billion in January to N9.50 billion in February, while the number of unitholders increased from 3,710 to 4,497. - ARM Aggressive Growth Fund – 137.41%
Also managed by ARM Investment Managers Limited, the ARM Aggressive Growth Fund returned 137.41 per cent to investors during the period. The fund focuses on high-risk equity investments across various sectors of the Nigerian capital market. Its net asset value rose from N7.56 billion in January to N11.47 billion in February, with unitholders increasing to 9,277. - Lead Balanced Fund – 136.83%
The Lead Balanced Fund, managed by Lead Asset Management Limited, posted a 136.83 per cent return. The fund invests in a combination of equities quoted on the NGX and high-quality fixed-income securities. It manages N1.35 billion in assets for 158 unitholders, indicating a concentrated base of high-net-worth investors. - Capital Express Balanced Fund – 127.52%
Capital Express Asset and Trust Limited’s balanced fund delivered a 127.52 per cent return. The open-ended unit trust scheme invests in both equities and fixed-income securities. Its assets increased from N2.53 billion in January to N3.02 billion in February, supported by 2,736 unitholders. - Coral Balanced Fund – 127.25%
Managed by FSDH Asset Management Ltd, the Coral Balanced Fund recorded a 127.25 per cent return. The fund allocates up to 65 per cent of its portfolio to equities listed on the NGX, with the remainder invested in fixed-income instruments. Its assets grew from N6.35 billion to N8.76 billion, while the number of unitholders rose to 1,528. - ARM Discovery Balanced Fund – 87.02%
The ARM Discovery Balanced Fund generated an 87.02 per cent return during the first two months of the year. The fund invests in a diversified mix of NGX-listed equities and government and corporate bonds. It manages N12.21 billion in assets and has the largest investor base among the top 10, with 22,547 unitholders. - Zedcrest Equity Fund – 44.57%
The Zedcrest Equity Fund, managed by Zedcrest Investment Managers Limited, is the top-performing pure equity fund on the list with a 44.57 per cent return. The fund’s net asset value surged from N99.7 million in January to N1.64 billion in February, while unitholders increased from 82 to 574. - Halo Equity Fund – 37%
Halo Asset Management Limited’s Halo Equity Fund delivered a 37 per cent year-to-date return, building on its strong 169 per cent performance in 2025. The fund invests in equities across multiple sectors of the Nigerian capital market. Its assets grew from N121.5 million to N362.70 million, with unitholders rising to 115. - Paramount Equity Fund – 35.71%
Managed by Chapel Hill Denham Management Limited, the Paramount Equity Fund posted a 35.71 per cent return during the period. The fund invests in a broad range of equities and fixed-income securities and remains one of Nigeria’s oldest mutual funds. Its net asset value expanded from N7.50 billion in January to N14.24 billion in February. - Zrosk Magna Equity Fund – 35.32%
Rounding out the list is the Zrosk Magna Equity Fund from Zrosk Investment Management Limited, which recorded a 35.32 per cent return. Despite having only 101 unitholders, the fund manages N14.81 billion in assets, reflecting a strong base of high-net-worth investors.
