Zedcrest tops equity funds despite August pullback

Nigeria’s top three equity mutual funds delivered year-to-date returns of between 64.73 per cent and 82.36 per cent as of 28 August, 2026, despite a pullback in the broader equity-fund segment.

The Zedcrest Equity Fund led the category with an 82.36 per cent return, followed by the Halo Equity Fund at 67.00 per cent and the Zrosk Magna Equity Fund at 64.73 per cent, according to data from the Securities and Exchange Commission.

Zedcrest retained the top position for the fourth consecutive month, although its return moderated from 88.58 per cent in July.

The fund, managed by Zedcrest Investment Managers Limited, had N9.72bn in assets under management and 6,550 unitholders as of 28 August.

The Halo Equity Fund, managed by Halo Asset Management Limited, ranked second with a 67 per cent year-to-date return, up from third place in July when it recorded a 74 percent return.

The fund had N434.35m in assets and 122 unitholders at the end of August.

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Zrosk Magna Equity Fund ranked third with a 64.73 per cent return, moving up from fourth place in July. Managed by Zrosk Investment Management Limited, the fund had N23.24bn in assets but only 201 unitholders.

The performance of the three funds came as the broader equity mutual fund market weakened in August.

Total net asset value of Nigeria’s equity mutual funds fell 4.51 per cent to N230.50bn by 28 August, from N241.38bn at the end of July.

Despite the decline in assets, the number of investors in the category increased to 127,837 from 121,316, representing a 5.38 per cent rise.

The equity mutual fund segment comprised 22 funds in August, compared with 21 in July, and accounted for 2.41 per cent of total mutual fund assets.

The August performance also shows moderation from the exceptionally strong returns recorded by the leading funds in July, as volatility in Nigerian equities reduced some of the gains accumulated earlier in the year.