A quick look at Money Market and Shari’ah Compliant funds in Q2

The total money market funds net asset value (NAV) stood at ₦586.94 Billion from ₦612.4 Billion recorded in May 2022, representing a decline of -4.16% in the NAV of total money market funds in the industry. The Money Market Fund still holds the most market share with 41.95% of the mutual fund industry.

As of the 1st of July 2022, there were 127 mutual funds registered with the Commission. Bonds/fixed income funds and money market funds populated the list of registered funds, while infrastructure funds and Shari’ah compliant funds trailed in small numbers. Of the 127 listed funds, 36.2% recorded a decline: in their unit prices, 33.9% recorded positive returns, while 29.9% maintained their initial value.

Here is a snapshot of the money market fund performances in June 2022.

For money market funds;

SEC (Securities and Exchange Commission) Report as of 1st July 2022

For Shari’ah compliant funds

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SEC (Securities and Exchange Commission) Report as of 1st July 2022

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