There is a public service announcement that airs on American Televisions as a way to remind parents to check up on their children. That public service announcement, which comes on shortly before the commencement of the 10 PM news, goes thus: “It is 10 PM, do you know where your children are?”
In a similar fashion, people with mutual funds investments should have an alarm go off in their brains at the end of every month that chimes, “It is the end of the month, do you know how your mutual funds did?”
Mutual funds in Nigeria posted stellar performances in the month of October, with seven of the funds printing double-digit returns in the review month while the net asset value of the industry increased by N11.9 billion to N1.38 trillion. This is according to a recent analysis carried out by Nairalytics, on the data obtained from the Securities and Exchange Commission (SEC). What does the data say?
According to the data, the net asset value of the entire mutual fund industry grew from N1.368 trillion recorded as of 30th September 2021 to N1.38 trillion as of the end of the month, representing a month-on-month increase of 0.9%.
Similarly, 56.5% of the registered funds on the website of SEC recorded positive returns on investment in the review month in contrast to 15.3%, which recorded negative returns while 28.2% of the listed funds remained flat.
Mutual fund investment is one of the popular forms of investments in Nigeria especially for passive investors; hence it is pertinent to constantly monitor and track the performances of these instruments, in order to inform the decisions of the investing community. To this end, Nairametrics ranks the best performing mutual funds for the month of October 2021. The rank was computed by comparing the unit prices of each fund between September 30th and October 29th. Further analysis into the growth of the net asset value shows that the money market funds pushed the industry in the period under review, recording an increase of N14.72 billion to close at N537.1 billion as of the end of September 2021
Meanwhile, below were the top-performing mutual funds in October 2021. We also highlighted their performance in terms of changes in net asset value and included profiles of the funds as described on their websites. VI ETF (Exchange Traded Fund) – Vetiva Fund Managers Limited
The Vetiva Industrial ETF […]