Mutual Funds’ Value Grow to N1.43tn `on Increasing Demand


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By Goddy Egene

The Nigerian mutual funds market has recorded a significant increase as more investors now show interest in the market given the numerous benefits in investing through the asset class. The number of registered mutual funds with the Securities and Exchange Commission (SEC) grew from 76 in 2019, with Net Asset Value (NAV) in excess of N600 billion to 102 mutual funds with NAV of over N1.43 trillion.

The Divisional Head, Listings Business, Nigerian Stock Exchange (NSE), Mr. Olumide Bolumole, disclosed this yesterday during the digital Closing Gong Ceremony to commemorate the election of Mrs. Tope Omojokun as the President, Fund Managers Association of Nigeria (FMAN).

According to him, 56 of the 102 mutual funds are listed on the NSE with NAV of over N1.24 trillion representing 88.3 per cent of total NAV.
“This confirms the NSE as the preferred listing destination for this asset class and we will continue to strategically…

Source: Thisday Newspaper