Investors reap over 55% returns from Cowry, Futureview, Zrosk - Punch Newspapers
Three Nigerian equity mutual funds delivered year-to-date returns above 55 per cent by 28 August, 2026, as investors continued to seek gains from the stock market despite increased volatility. The Futureview Equity Fund, Cowry Equity Fund and Zrosk Magna Equity Fund recorded returns of 58.44 per cent, 55.83 per cent and 64.73 per cent respectively, based on data from the Securities and Exchange Commission. The three funds were among the top performers in Nigeria’s equity mutual fund market during the period. The Futureview Equity Fund, managed by Futureview Asset Management Limited, ranked fourth with a year-to-date return of 58.44 per cent, although it dropped two places from second in July. The fund, launched in July 2021, had N204.68m in assets and 74 unitholders as of 28 August. Similarly, the Cowry Equity Fund, managed by Cowry Treasurers Limited, ranked fifth with a 55.83 per cent year-to-date return, moving up one position from July.See more Punch stories on Google.Add Punch on Google The fund, launched in August 2022, managed N745.40m and had 321 unitholders. A N10m investment at the beginning of the year would have generated an estimated N5.58m gain by August 28, taking the investment to about N15.58m. Aloso, the Zrosk Magna Equity Fund recorded a stronger 64.73 per cent return, placing it third among the top-performing equity funds. Managed by Zrosk Investment Management Limited, the fund rose one place from fourth in July. NASD targets N12bn Rights Issue for growth, infrastructure NGX widens capital market access via messaging service Nigeria’s energy: A capital story It had N23.24bn in assets but only 201 unitholders, according to the SEC data. A N10m investment made at the start of 2026 would have generated nearly N6.47m in gains based on the reported year-to-date performance, taking the investment to N16.47m. The stronger performance of the funds came despite a contraction in the overall equity mutual fund segment. The segment’s net asset value fell 4.51 per cent to N230.50bn as of 28 August, from N241.38bn at the end of July. Its share of total Nigerian mutual fund assets also declined to 2.41 per cent from 2.57 per cent. However, investor participation increased during the month, with the number of unitholders rising to 127,837 from 121,316, representing a 5.38 per cent increase. The data show that strong investor participation continued even as the value of assets managed by equity funds declined. Across the 22 equity funds, the top 10 collectively managed N99.62bn, representing 43.22 per cent of the category’s total assets. The performance figures also highlight the wide gap between individual fund returns, with the leading funds delivering substantially higher gains than the broader equity fund category. “The August figures show that strong year-to-date returns were still available in actively managed equity funds despite the increased volatility in Nigerian equities,” said a Lagos-based fixed-income analyst, Temitope Oduola. Odinaka Anudu
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