According to analysis of the latest numbers available from the Nigerian Security and Exchange Commission conducted by Quantitative Financial Analytics Company, mutual fund investors injected N1.56 billion into various mutual funds while withdrawing N700 million during the first week of February that ended on February 6th. Once again, money market funds attracted the largest injection in the amount of N1.06 billion. Of these, N484 million were invested in FBN Money Market Fund, N318 million in Stanbic IBTC Money market fund while N143 and N119 million went to UBA and Arm Money market funds with AIICO money market getting just 3 million of inflow.
On the other hand, Equity funds witnessed net inflow of N52.2 million. Most of this inflow went to Arm Discovery and SIM Capital Alliance fund which garnered N30.6 and N33.5 million respectively. The outflows affected Coral Growth Fund which lost N1.38 billion to withdrawals. Other funds that witnessed huge withdrawals in the category include IMB Energy Mater Fund and Nigeria International Growth fund with withdrawals of N1.56 and N3.92 billion
The story was a bit different for Bond Funds which recorded net out flow of N497.7 million. In like manner, Ethical and Umbrella Funds also suffered net outflows of N43.9 and 17.2 million respectively. Sector Fund, however, attracted a record N1.2 million during the week under review. Much of the outflow suffered by the Bond Fund category was from the Nigeria International Debt Fund, BGL Sapphire Fund and Stanbic IBTC Guaranteed Fund that witnessed an estimated N2.5 million, N2.066 and N1.15 million outflows while UBA Bond Fund helped the bond category with an inflow of N1.74 million.
However, a year to date analysis of the flow trend of mutual funds points to the fact that investors still have some faith in the mutual fund subsector of the market. The estimated year to date inflow now stands at N13.65 billion while the outflow is estimated at N2.89 billion resulting in a net flow of over N10 billion. With that, the total net asset value of Nigerian Mutual funds which ended the 2014 financial year at N175.86 billion now stands at N182.3 billion having made an estimated YTD loss of N4.3 billion.