When it comes to investments, mutual funds have become a popular choice for both individual and institutional investors in Nigeria.
These funds pool funds from a variety of investors, invest in diverse portfolios of securities, and offer benefits such as professional management, diversification and liquidity.
A mutual fund’s performance and success is highly dependent on the expertise of the asset manager. Mutual funds are becoming more and more competitive in Nigeria, with various asset managers striving to offer the best possible returns to investors.
Let’s take a closer look at the ranking of mutual fund managers in Nigeria based on assets under management (AUM).
1. Stanbic IBTC Asset Management
Stanbic IBTC Asset Management takes the top spot with an impressive AUM of 841,281,787,374 ₦ 841,281,787,374 ₦, representing 41.96% of total mutual fund assets in Nigeria. Stanbic IBTC Asset Management is known for its wide range of mutual funds and investment solutions that cater to different risk appetites and financial objectives.
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2. FBNQuest Asset Management
FBNQuest Asset Management secures the second place with 319,400,443,583 ₦ 319,400,443,583, representing 15.93% of total assets under management. As a subsidiary of FBN Holdings, FBNQuest Asset Management has a strong presence in the Nigerian financial market, offering investors a variety of mutual fund options.
3. United Capital Asset Management
United Capital Asset Management ranks third with assets under management of ₦284,765,078,027, accounting for 14.20% of total mutual fund assets in Nigeria. United Capital has a reputation for providing innovative investment solutions and managing a range of mutual funds customized for different investment objectives.
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4. Chapel Hill Denham Management
Chapel Hill Denham Management secures fourth place with 161,619,541,016 ₦161,619,541,016 AUM, representing 8.06% of total mutual fund assets. Known for its strong research-driven approach, Chapel Hill Denham offers a wide range of mutual fund products that attract investors seeking competitive returns.
5. ARM Investment Management
ARM Investment Management ranked fifth with total assets under management of 101,115,342,091 ₦ 101,115,342,091, accounting for 5.04% of total assets under management. ARM Investment Management, a subsidiary of Asset & Resource Management Holding Company Limited (ARM), offers a range of mutual fund options to suit different risk profiles.
The top five asset managers dominate the Nigerian mutual fund market and manage a significant portion of the total assets under management. However, it is imperative to recognize the efforts of other asset managers who are playing an important role in the industry. The next asset managers included in the ranking are:
6. AXA Mansard Investments – ₦46,193,062,240 (2.30%)
7. Guarantee Trust Fund Manager – ₦44,995,683,550 (2.24%)
8. Quantum Zenith Asset Management & Investments – 32,653,188,238 ₦ (1.63%)
9. FSDH Asset Management – ₦21,677,262,725 (1.08%)
Ten. Lotus Capital – ₦20,887,793,849 (1.04%)
Here is the full ranking table of all mutual fund managers:
The Nigerian mutual fund industry continues to evolve, offering investors a wide range of options to grow their wealth. As with any investment, investors should do thorough research and consider their risk tolerance and financial goals before investing in mutual funds.
Note: The data provided for the rankings is based on information available as of July 7, 2023 and is subject to change due to new developments in the mutual fund market.
Investors are advised to check the latest information before making any investment decision.