Nigeria’s mutual fund market posted strong gains in the first quarter of 2026, with several smaller and mid-sized equity funds outperforming larger, more established players.

Contents

Data from the Securities and Exchange Commission (SEC) indicates that most equity mutual funds recorded returns between 28 and 40 per cent, driven by a bullish rally on the Nigerian Exchange (NGX).

However, a number of relatively smaller funds outpaced the market, delivering returns well above that range.

The development highlights a key trend: fund size did not necessarily determine performance, as more agile managers capitalised on market opportunities more effectively.

Below are the 10 top-performing equity mutual funds in Nigeria for Q1 2026:

1. Zedcrest Equity Fund – 51.86%

The best-performing fund in the period, delivering outstanding returns driven by strong market positioning.

2. Halo Equity Fund – 44.00%

Achieved impressive gains through strategic investments in high-growth stocks.

3. Paramount Equity Fund – 38.70%

Benefited from a diversified portfolio spanning equities and fixed-income instruments.

4. Zrosk Magna Equity Fund – 38.56%

Posted strong returns through concentrated investments in fundamentally sound companies.

5. PACAM Equity Fund – 38.19%

Recorded solid performance with a balanced mix of equities and money market assets.

6. Cowry Equity Fund – 33.35%

Delivered steady growth through a blend of equities, bonds, and short-term instruments.

7. Guaranty Trust Equity Income Fund – 32.25%

Performance was bolstered by dividend-paying stocks, offering both income and capital appreciation.

8. CardinalStone Equity Fund – 31.99%

Maintained consistent returns within the equity market segment.

9. Meristem Equity Market Fund – 31.20%

Targeted higher-risk investors seeking stronger returns from equity exposure.

10. Legacy Equity Fund – 30.20%

Focused on long-term capital growth through investments in listed securities.

Despite the broad market rally, performance varied significantly across funds. Notably, the largest equity fund in Nigeria, Stanbic IBTC Nigerian Equity Fund, posted a 29.76 per cent return—trailing several smaller competitors.

The contrast underscores how smaller funds, despite managing less capital, were better positioned to maximise gains during the market upswing.

Copyright © 2026 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).