The top 10 best-performing mutual funds in Nigeria have delivered returns of at least 35 percent to investors in the first two months of 2026, according to the latest Weekly Net Asset Value data from the Securities and Exchange Commission (SEC) Nigeria.
At over 35 percent returns and with six funds delivering between 87 percent and 151 percent, investors have recorded strong gains that comfortably outpace the country’s inflation rate, which currently stands at 15.10 percent, ensuring positive real returns.
The top-performing mutual funds are made up of five balanced funds, four equity funds, and one Sharia-compliant balanced fund, all of which are heavily invested in the Nigerian Exchange (NGX).
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The following are the 10 best-performing mutual funds in Nigeria so far in 2026;
ARM halal balanced fund – 151 percent
The ARM Halal Balanced Fund, managed by ARM Investment Managers Limited, tops the chart with an astounding 151.23 percent yield in the first two months of 2026, a staggering 99.27 percentage point jump from its 51.96 percent return at the start of the year on January 2, 2026.
The fund invests in Shari’ah-compliant equities on the NGX and investment-grade Shari’ah-compliant alternative instruments, with a significant allocation to equities that has supercharged its returns.
Its assets have more than doubled, growing from N4.46 billion in January to N9.50 billion in February, while unitholders increased from 3,710 to 4,497. It is proving that ethical investing can deliver market-beating results.
ARM Aggressive Growth Fund – 137 percent
ARM Investment Managers Limited also claims the second spot with the ARM Aggressive Growth Fund, delivering 137.41 percent returns, an 88.13 percentage point increase from its 49.28 percent return on January 2, 2026.
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The fund pools investors’ capital to achieve capital appreciation through high-risk investments in equities across various sectors of the Nigerian capital market.
It has grown to N11.47 billion in net asset value (NAV), up from N7.56 billion in January, with unitholders increasing from 8,560 to 9,277.
Lead Balanced Fund – 137 percent
The Lead Balanced Fund, managed by Lead Asset Management Limited, delivered an impressive 136.83 percent yield, a 92.20 percentage point surge from its 44.63 percent return on January 2, 2026.
It invests in a blend of equity securities quoted on the NGX and high-quality fixed-income securities.
Despite having only 158 unitholders (unchanged since January), it manages N1.35 billion in assets, an average of over N8.5 million per investor, suggesting a concentrated base of high-net-worth individuals who have been richly rewarded.
Its NAV has grown from N973 million in January to N1.35 billion in February.
Capital Express Balanced Fund – 128 percent
This fund, managed by Capital Express Asset and Trust Limited, returned 127.52 percent to investors, a 67.82 percentage point jump from its 59.70 percent return on January 2, 2026.
It is an actively managed, open-ended unit trust scheme that invests in a mix of equities and fixed-income securities. With N3.02 billion in NAV (up from N2.53 billion in January) and 2,736 unitholders, it has delivered exceptional returns while maintaining broad retail participation.
Coral Balanced Fund – 127 percent
The Coral Balanced Fund from FSDH Asset Management Ltd secured a 127.25 percent yield, a 2.69 percentage point increase from its 124.56 percent return on January 2, 2026.
It invests a maximum of 65 percent in equities quoted on the NGX and the balance in fixed-income securities. Notably, it recorded the highest weekly gain (56.71 percent) among the top 10 in the final week of February, signaling strong momentum.
It manages N8.76 billion for 1,528 unitholders, up from N6.35 billion and 1,357 unitholders in January.
ARM Discovery Balanced Fund – 87 percent
ARM Investment Managers Limited claims its third spot in the top 10 with the ARM Discovery Balanced Fund, delivering 87.02 percent returns, a 54.34 percentage point increase from its 32.68 percent return on January 2, 2026.
This fund is the largest in the top 10 by unitholders (22,547), up from 22,418 in January, and manages N12.21 billion in assets, demonstrating broad retail investor confidence in ARM’s investment strategy.
It invests in a diversified selection of companies listed on the NGX, as well as federal, state, and corporate bonds.
Zedcrest Equity Fund – 45 percent
The Zedcrest Equity Fund, managed by Zedcrest Investment Managers Limited, leads the pure equity category with a 44.57 percent return in just eight weeks, a 43.72 percentage point increase from its 0.85 percent return on January 2, 2026.
In January, the fund managed N99.7 million for 82 unitholders. By February 2026, its NAV had increased to N1.64 billion, a 1,545 percent increase in just eight weeks, while unitholders grew to 574.
This influx of capital suggests investors are flocking to its high-conviction equity strategy, which leverages expert insights to identify winning counters on the NGX.
Halo Equity Fund – 37 percent
The Halo Equity Fund, managed by Halo Asset Management Limited, delivered a 37 percent year-to-date return, extending its strong 2025 performance, following a spectacular 169 percent return for the full year 2025 (as of January 2, 2026).
The fund pools together investors’ funds to achieve capital appreciation and income generation on its assets through investments in equities across various sectors of the Nigerian capital market.
Its NAV has nearly tripled, growing from N121.5 million in January to N362.70 million in February, with unitholders increasing from 78 to 115.
Paramount Equity Fund – 36 percent
The Paramount Equity Fund from Chapel Hill Denham Mgt. Limited delivered a 35.71 percent return for the first eight weeks of 2026, an excellent performance that builds on its strong 63.89 percent return for the full year 2025 (as of January 2, 2026).
As Nigeria’s oldest mutual fund, it invests in a broad range of high-quality equities and fixed income securities, providing investors with consistent capital appreciation and income generation over the long term.
It is the second-largest fund in the top 10 by NAV, having grown from N7.50 billion in January to N14.24 billion in February, a 90 percent increase, with unitholders rising from 8,944 to 15,486.
Zrosk Magna Equity Fund – 35 percent
The Zrosk Magna Equity Fund from Zrosk Investment Management Limited closes the list of top performers with a 35.32 percent yield for the first two months of 2026, following a 74.70 percent return for the full year 2025 (as of January 2, 2026).
The fund consists of high-conviction equities selected by the firm’s expert team. Despite having only 101 unitholders (up from 78 in January), it manages N14.81 billion in assets, an average of over N146 million per investor, indicating a concentrated base of high-net-worth investors. Its NAV has grown 55 percent since January.
