Here are Nigeria’s top 10 money market funds that delivered exceptional returns in 2025 and how you can start earning competitive yields on your savings today.
What Are Money Market Funds And How Do They Work?
A money market mutual fund is a type of investment vehicle that pools money from multiple investors to purchase high-quality, short-term debt instruments. These include Treasury Bills, commercial papers, certificates of deposit, and short-term government securities, all typically maturing within one year or less.
Professional fund managers actively manage these portfolios and constantly seek out the best available rates while maintaining strict quality and liquidity standards. For their expertise, they charge management fees, which typically ranges from 1% to 2.5% of your investment annually.
Money market funs can be thought of as a supercharged savings account with professional oversight. Unlike regular savings accounts that pay fixed interest rates of 5-9%, money market funds provide variable returns that adjust with prevailing interest rates. This means when the Central Bank of Nigeria raises policy rates to combat inflation, your money market fund returns increase accordingly.
The key advantages of money market funds include: superior yields compared to traditional savings, daily liquidity for most funds, professional portfolio management, diversification across multiple instruments and relatively low risk due to investments in high-grade, short-term securities.
Nigeria’s Money Market Fund Boom in 2025
The Nigerian money market fund industry has experienced explosive growth in 2025, with total net asset value surging from ₦1.68 trillion at year-end 2024 to over ₦3.59 trillion by August 2025. This represents a remarkable 113% increase in just eight months.
This unprecedented growth reflects a fundamental shift in how Nigerians view savings and investments. With inflation exceeding 30% for much of the year and traditional savings accounts offering single-digit returns, investors are seeking alternatives that actually preserve purchasing power.
The sector’s expansion has been driven by several factors: the Central Bank of Nigeria’s aggressive monetary tightening, which pushed Treasury Bill yields above 20%, growing awareness among retail investors about inflation-eroding effects on cash savings, increased accessibility through digital platforms and fintech integrations, and institutional investors seeking safe havens amid market volatility.
According to the Securities and Exchange Commission, money market funds now command 45.6% market share of Nigeria’s entire mutual fund industry, making them the most popular investment vehicle in the country. With 41 licensed fund managers competing for investors, the sector offers unprecedented choice and competitive yields.
Top 10 Money Market Funds of 2025
1. DLM Money Market Fund – 22.20% YTD Yield
Leading the pack with an impressive 22.20% year-to-date return, DLM Asset Management has proven that size isn’t everything. With a modest NAV of ₦65.82 million and only 23 unitholders, this boutique fund delivers outsized returns through disciplined allocation to government securities, strategic bank placements, and selective commercial papers.
The fund’s agility allows rapid repositioning to capture the best available rates, while maintaining a conservative risk profile that prioritizes capital preservation. For investors willing to work with smaller fund managers, DLM offers compelling proof that nimble operations can outperform industry giants.
2. Page Money Market Fund – 22.14% YTD Yield
Page Asset Management recorded one of 2025’s sharpest performance improvements, with yields jumping from 20.82% to 22.14% week-over-week in early August. Managing ₦938.9 million across 126 unitholders, the fund strikes an attractive balance between accessibility and performance.
3. Meristem Money Market Fund – 22.09% YTD Yield
Meristem Wealth Management delivers consistent excellence, generating 22.09% returns while managing over N50.67 billion for 6,023 unitholders. This performance demonstrates that scale doesn’t necessarily dilute yield when managed by experienced professionals.
4. Zedcrest Money Market Fund – 21.62% YTD Yield
Zedcrest Investment Managers maintains strong momentum with 21.62% YTD returns, supported by disciplined allocation across naira-denominated debt instruments and carefully selected commercial papers. With ₦6.43 billion under management and over 4,111 unitholders, the fund offers proven scale and stability. What sets Zedcrest apart is accessibility—a ₦1,000 minimum entry point welcomes retail investors while institutional clients benefit from the same professional management.
5. ARM Money Market Fund – 20.89% YTD Yield
ARM Investment Managers operates Nigeria’s largest money market fund among top performers, commanding ₦247.22 billion in assets and serving over 73,000 unitholders. While its 20.89% yield trails smaller competitors slightly, its massive scale reflects unparalleled investor confidence in stability and consistency.
6. Coronation Money Market Fund – 23.74% H1 Yield
Coronation Asset Management delivered 2025’s highest recorded yield in Q2 at 23.74%, and managed ₦28.4 billion for 6,485 investors. The fund’s exceptional performance reflects sophisticated portfolio optimization and expert timing in Treasury Bill auctions.
7. Chapel Hill Denham Money Market Fund – 22.85% H1 Yield
Chapel Hill Denham Management achieved 22.85% returns in Q2 2025 while managing ₦23.7 billion for 2,083 unitholders. The fund benefits from its parent company’s deep relationships across Nigeria’s financial sector, securing preferential access to high-yielding placements.
8. Trustbanc Money Market Fund – 22.81% H1 Yield
Trustbanc Asset Management punches above its weight, delivering 22.81% returns with just ₦5.1 billion under management and 498 unitholders. This boutique fund’s performance illustrates how specialized managers can generate alpha through focused strategies and personalized service.
9. CardinalStone Money Market Fund – 21.65% H1 Yield
CardinalStone Asset Management generated 21.65% returns while managing ₦6.8 billion for 931 unitholders. The fund’s consistent performance reflects a disciplined investment process that prioritizes risk-adjusted returns over absolute yield chasing.
10. FBN Money Market Fund – 21.54% H1 Yield
Rounding out the top 10, First Asset Management’s FBN Money Market Fund achieved 21.54% returns while managing an impressive ₦525.5 billion for 16,251 unitholders. As one of Nigeria’s largest funds, it offers unmatched stability and liquidity.
How to Invest in Money Market Funds
Opening a money market fund account typically requires completed application forms and risk assessment questionnaires, valid identification like NIN, BVN, or international passport, proof of address such as utility bills or bank statements, bank account details for transactions, and your minimum initial investment amount. Once established, you can make additional investments anytime, set up automatic monthly investment plans, monitor performance through online portals or apps, and request redemptions with typically same-day or next-day processing.
Disclaimer
The value of money market fund investments can fluctuate, and there is no guarantee of capital preservation or returns. Past performance does not indicate future results. Money market funds are not bank deposits and lack NDIC insurance protection. All investments carry risk, and you should carefully consider your risk tolerance, investment timeline, and financial objectives before investing.
This information is for educational purposes only and should not be considered personalized investment advice. Before making investment decisions, consult with licensed financial professionals who can assess your individual circumstances and goals.
