Nigeria’s mutual fund managers grew asset under management by about a staggering 51% in 2015 to close the year at N264.7 billion (excluding BGL Sapphire and Nubian Funds), according to analysis of data released by the Security and Exchange Commission. The growth came mainly from strong inflows in the money market funds and Umbrella funds which grew by 160% and 106% respectively. The industry which began the year with an asset base of N175.3 billion, generated about N127.25 billion inflows while suffering N31.18 billion. It also recorded an estimated total loss of about N6.7 billion.
The funds that recoded the high growth in asset are FBN Money Market fund with 226% growth, Stanbic IBTC Absolute Fund, 196%, ARM Money Market Fund, 144%, Stanbic IBTC Money market Fund, 116%, UBA Money Market Fund,114% and SFS Fixed Income Fund, 91%.
Funds that saw reductions in their asset base include Vetiva Consumer Goods ETF, 47%, Vetiva Banking ETF, 42%, Vetiva Industrial ETF,29% and Stanbic IBTC Conservative Fund, 25%. The reduction in the asset base of the Vetiva Series funds is not surprising given that the funds were on boarded when the market was in a bad shape and due to the fact that they are purely equity oriented funds.