October 2022 best-performing mutual funds in Nigeria
Nigerian mutual funds experienced a decline in return on investment (ROI) of 0.4% for the month of October 2022, as their net asset value decreased by N13.83 billion to N1.48 trillion.
Information from Nigeria’s Securities and Exchange Commission corroborates this. The Net Asset Value (NAV) of the 131 mutual funds registered with the SEC dropped from N1.49 trillion on September 30, 2018, to N1.48 trillion on October 28, 2022.
According to further analysis, infrastructure funds recorded an increase of N12.78 billion during the review month, while investments in fixed-income funds plummeted by N16.89 billion. Despite the underwhelming performance of mutual funds during this period, dollar-denominated funds led the rankings of the best performers.
Since the US Federal Reserve has r...