Best performing equity mutual fund in October  2025 by YTD  

The latest Securities and Exchange Commission (SEC) data indicates that Nigeria’s equity mutual funds recorded strong year-to-date (YTD) performance as of October 2025, with total assets across the segment reaching N79.94 billion.

Equity mutual funds are among the best-performing collective investment schemes (CIS) in Nigeria, clearly outperforming money market and fixed-income funds amid a sustained rally in the equities market.

Unlike money market funds, which prioritize liquidity and capital preservation, or bond funds that rely on relatively stable interest income, equity mutual funds benefit directly from share price appreciation, earnings recovery, and renewed investor risk appetite.

Equity mutual funds delivered outsized year-to-date returns by capturing strong gains in select consumer stocks, improving corporate fundamentals, combined with increased investors’ participation, strengthened equity fund performance during the period.

Rising Net Asset Values (NAVs) and steady growth in unitholder numbers across leading funds point to sustained investor confidence in equity-focused strategies.

Below are the top 10 best-performing equity mutual funds as of October 2025

AfrinvestEquity Fund  

• YtD Return – 53.52% 
• Fund NAV – N4.46 billion 
• Unit holders – 1,695 

Afrinvest Equity Fund recorded a 53.52% YTD return in October, rising from 45.17% in September, indicating improving equity market gains.

The fund’s NAV expanded to N4.46 billion, with 1,695 unitholders, while the offer price stood at N614.15. Representing 5.58% of the total equity fund market, the fund maintains steady performance through diversified exposure to large- and mid-cap equities.

Afrinvest Equity Fund is managed by Afrinvest Asset Management, and it is the asset management arm of Afrinvest West Africa Ltd., a diversified financial services group offering asset management, securities trading, investment banking, research and consulting.

FBN Nigeria Smart Beta Equity Fund 

• YtD Return – 54.16% 
• Fund NAV – N2.78 billion 
• Unit holders – 1,839 

FBN Nigeria Smart Beta Equity Fund posted a 54.16% YTD return in October, up from 51.42% in September, reflecting consistent performance from its factor-based investment approach.

The fund closed the month with a NAV of N2.80 billion, an offer price of N506.26, and 1,839 unitholders. With a 3.50% market share, the fund continues to appeal to investors seeking systematic equity exposure.

This fund is managed by FBNQuest Asset Management, which is part of FBNQuest, the financial services arm of FBN Holdings, offering mutual funds, portfolio management, investment advisory, and strategic wealth solutions.

Stanbic IBTC Aggressive Fund (Sub-Fund) 

• YtD Return – 56.16% 
• Fund NAV – N1.55 billion 
• Unit holders – 28  

Stanbic IBTC Aggressive Fund returned 56.16% YTD in October, improving from 49.75% in September, supported by selective exposure to higher-risk equities.

The fund ended the period with a NAV of N1.55 billion, an offer price of N12,665.97, and 28 unitholders. Representing 1.94% of total equity fund assets, the fund remains positioned for investors seeking enhanced growth potential.

Stanbic IBTC Aggressive Fund is managed by Stanbic IBTC Asset Management and is part of Stanbic IBTC Holdings PLC, offering trusteeships, stockbroking, and wealth management services.

ARM Aggressive Growth Fund 

• YtD Return – 56.96% 
• Fund NAV – N6.96 billion 
• Unit holders – 8,011  

ARM Aggressive Growth Fund delivered a 56.96% YTD return in October, up from 48.45% in September, reflecting renewed momentum in growth-oriented stocks.

The fund recorded a NAV of N6.96 billion, an offer price of N53.85, and 8,011 unitholders. Accounting for 8.71% of the total equity fund market, the fund maintains a strong focus on high-growth companies with long-term expansion potential.

ARM Investment Managers, the manager of this fund, operates under ARM Group, providing mutual funds, portfolio management, private equity, real estate, and pension management services.

AnchoriaEquity Fund  

• YtD Return – 59.58% 
• Fund NAV – N1.19 billion 
• Unit holders – 611  

Anchoria Equity Fund returned 59.58% YTD in October, advancing from 50.38% in September, reflecting improved equity market participation.

The fund closed October with a NAV of N1.19 billion, an offer price of N415.82, and 611 unitholders. With a 1.49% share of the equity fund market, the fund continues to show steady growth supported by disciplined portfolio allocation.

This fund is managed by Anchoria Asset Management Limited, which is the investment arm of Anchoria Group, providing g asset management, investment advisory, and securities services.

Stanbic IBTC Nigerian Equity Fund 

• YtD Return – 65.16% 
• Fund NAV – N24.78 billion 
• Unit holders – 19,5185  

Stanbic IBTC Nigerian Equity Fund delivered a strong 65.16% YTD return in October, improving from 57.60% in September, reinforcing its leadership among large equity funds.

The fund’s NAV rose to N24.78 billion, supported by 19,518 unitholders, while the offer price closed at N42,447.32. Representing 31.00% of the total equity fund market, it remains the largest equity fund by assets, anchored on broad market exposure and long-term growth positioning.

Paramount Equity Fund 

• YtD Return – 66.52% 
• Fund NAV – N8.38 billion 
• Unit holders – 8,944  

Paramount Equity Fund recorded a solid 66.52% YTD return in October, up from 60.25% in September, reflecting steady appreciation in portfolio value.

The fund ended the month with a NAV of N8.38 billion, an offer price of N50.54, and 8,944 unitholders. With a 10.48% share of the equity fund market, the fund continues to benefit from broad investor participation and diversified equity exposure.

Chapel Hill Denham, the operator or manager of this fund, is a leading financial services firm in Nigeria offering investment banking, securities trading, alternative investments, wealth management, and investment advisory.

ZroskMagna Equity Fund  

• YtD Return – 73.76% 
• Fund NAV – N9.66 billion 
• Unit holders – 77 

Zrosk Magna Equity Fund posted a strong 73.76% YTD return in October, improving from 64.09% in September, reinforcing its position among Nigeria’s leading equity funds.

The fund’s NAV expanded to N9.66 billion, with 77 unitholders and an offer price of N215.05. Representing 12.08% of total equity fund assets, the fund remains a key player, driven by concentrated positions in fundamentally strong stocks.

Zrosk Investment Management, as the manager, is known for portfolio and asset management but also engages in broader investment advisory services.

Guaranty Trust Equity Income Fund 

• YtD Return – 89.42% 
• Fund NAV – N2.79 billion 
• Unit holders – 2,291  

Guaranty Trust Equity Income Fund returned a robust 89.42% YTD in October, up from 78.32% in September, reflecting sustained earnings momentum.

The fund’s NAV increased to N2.79 billion, supported by 2,291 unitholders, while its offer price stood at N3.99. Accounting for 3.49% of the total equity fund market, the fund continues to balance growth with income stability through exposure to resilient, dividend-paying equities.

Guaranty Trust Fund Managers, the operator of the fund, is a subsidiary of Guaranty Trust Holding Company plc (GTCO), and it offers asset management services across multiple African markets.

Halo Equity Fund 

• YtD Return – 159.00% 
• Fund NAV – N114.53 million 
• Unit holders – 72 

Halo Equity Fund delivered an exceptional 159.00% YTD return in October, a sharp improvement from 12.40% in September, positioning it as the best-performing equity fund within the review period.

The performance was achieved off a relatively low base, which amplified returns as the fund benefited from strong equity price movements.

The fund closed October with a NAV of N114.53 million, an offer price of N26.29, and 72 unitholders. Despite representing just 0.14% of the total equity fund market, the fund’s performance highlights its high-growth orientation and strong momentum in equity selection.

Halo Asset Management Limited, the operator of the fund, is known for its active, research-driven portfolio strategy.