Interest rate and huge demand have propelled investments in Mutual Funds to 82.2 % rise with its Net Asset Value, NAV, reaching N2.82 trillion Year-on-Year, YoY, in February 2024, from N1.55 trillion recorded in the corresponding period of 2023.Mutual fund is a collective investment platform that pools funds from investors and managed professionally by investing in choice money and capital market assets.

Vanguard’s findings from the latest data released by the Securities and Exchange Commission, SEC, showed that Dollar /Fixed Income Funds recorded the highest NAV in absolute term at N1.354 trillion as against N315.8 billion recorded in the corresponding period of 2023. The Dollar Fixed Income Funds accounted for 48.06% of the total value of the NAV.Under the Dollar/Fixed Income Funds, Stanbic IBTC Asset Management was the most active player among the 25 players in the market recording N803.5 billion and accounting for 59% of the total NAV.