Nigeria’s balanced mutual fund phase recorded a robust improve in web asset worth (NAV), reaching N191.02 billion as of September 2026, up 23.94% from N154.13 billion on the finish of August, as the phase continued to learn from funding exercise throughout equities and fixed-income securities.
Nairametrics Research evaluation of Securities and Exchange Commission (SEC) information compiled in the equipped workbook reveals that the phase comprised 31 funds, accounting for 1.98% of Nigeria’s whole mutual fund belongings of N9.66 trillion.
Balanced mutual funds make investments throughout asset lessons, sometimes combining equities and fixed-income devices to supply buyers with alternatives for capital appreciation and revenue era whereas managing publicity to market volatility.
The high 10 performing balanced mutual funds recorded year-to-date (YTD) returns starting from 44.87% to 72.33%, with Capital Express Balanced Fund retaining the main place for the third consecutive month.
The ten main funds collectively managed N96.08 billion, representing 50.30% of the balanced mutual fund phase and roughly 0.99% of the general mutual fund trade.
What the info is saying
The balanced mutual fund phase continued to draw new buyers in September 2026, with whole unitholders rising to 110,494 from 107,417 recorded in August, a rise of 3,077 unitholders or 2.86%.
Despite the dimensions of the phase, the highest 10 performing balanced mutual funds collectively handle N96.08 billion, representing 50.30% of the overall balanced mutual fund class and 0.99% of the general mutual fund trade.
Top 10 performing balanced mutual funds by YTD return
10. United Capital Wealth for Women Fund (44.87%)
The United Capital Wealth for Women Fund, managed by United Capital Asset Management Limited, recorded a YTD return of 44.87%, slipping two locations from eighth in August.
The fund manages N5.44 billion in belongings and serves 3,147 unitholders, with a suggestion value of N2.30.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,243,500 in returns by September, bringing the overall funding worth to N7,243,500.
The fund has appeared in three of the 9 month-to-month top-10 rankings in 2026, that includes in April, August and September.
9. Emerging Africa Balanced-Diversity Fund (44.91%)
The Emerging Africa Balanced-Diversity Fund, managed by Emerging Africa Asset Management Limited, recorded a YTD return of 44.91%, declining three locations from sixth in August.
The fund manages N957.74 million in belongings and serves 214 unitholders, with a suggestion value of N2.32.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,245,500 in returns by September, bringing the overall funding worth to N7,245,500.
Emerging Africa Balanced-Diversity Fund has maintained a comparatively constant presence in the rankings, showing in eight of the 9 months tracked in 2026, lacking solely June.
8. Stanbic IBTC Balanced Fund (45.13%)
The Stanbic IBTC Balanced Fund, managed by Stanbic IBTC Asset Management Limited, recorded a YTD return of 45.13%, advancing two locations from tenth in August.
The fund manages N14.86 billion in belongings and serves 10,192 unitholders, with a suggestion value of N14,122.88.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,256,500 in returns by September, bringing the overall funding worth to N7,256,500.
Stanbic IBTC Balanced Fund has appeared in 5 of the 9 month-to-month top-10 rankings, that includes in April, May, July, August and September.
7. United Capital Balanced Fund (46.62%)
The United Capital Balanced Fund, managed by United Capital Asset Management Limited, recorded a YTD return of 46.62%, climbing two locations from ninth in August.
The fund manages N41.43 billion in belongings, making it the biggest balanced mutual fund by NAV in September. It serves 4,604 unitholders and has a suggestion value of N2.98.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,331,000 in returns by September, bringing the overall funding worth to N7,331,000.
United Capital Balanced Fund has appeared in 4 month-to-month top-10 rankings in 2026. After that includes in January and February, it dropped out between March and July earlier than returning in August and enhancing its place in September.
6. CardinalStone Balanced Fund (50.08%)
The CardinalStone Balanced Fund, managed by CardinalStone Asset Management Limited, recorded a YTD return of 50.08%, returning to the highest 10 in September after lacking the August rating.
The fund manages N4.94 billion in belongings and serves 1,068 unitholders, with a suggestion value of N1.83.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,504,000 in returns by September, bringing the overall funding worth to N7,504,000.
CardinalStone Balanced Fund has appeared in six of the 9 month-to-month rankings in 2026, having beforehand featured in March, April, May, June and July.
Its September return marks a major enchancment from the 19.16% YTD return recorded in August, when the fund ranked outdoors the highest 10.
5. Alpha Morgan Balanced Fund (51.60%)
The Alpha Morgan Balanced Fund, managed by Alpha Morgan Capital Managers Limited, recorded a YTD return of 51.60%, slipping two locations from third in August regardless of an enchancment in its return.
The fund manages N3.20 billion in belongings and serves 274 unitholders, with a suggestion value of N3,354.13.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,580,000 in returns by September, bringing the overall funding worth to N7,580,000.
Alpha Morgan Balanced Fund has appeared in seven of the 9 month-to-month top-10 rankings in 2026, lacking solely January and May.
Its YTD return elevated from 43.84% in August to 51.60% in September, though stronger performances by different funds pushed it decrease in the rating.
4. Nova Hybrid Balanced Fund (52.18%)
The Nova Hybrid Balanced Fund, managed by NOVAMBL Asset Management, recorded a YTD return of 52.18%, rising one place from fifth in August.
The fund manages N71.26 million in belongings and serves simply 11 unitholders, making it the smallest fund by NAV and unitholder rely amongst September’s high 10 performers. Its supply value stood at N3.99.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,609,000 in returns by September, bringing the overall funding worth to N7,609,000.
Nova Hybrid Balanced Fund has appeared in 4 of the 9 month-to-month rankings in 2026, that includes in March, July, August and September.
Its return elevated from 41.54% in August to 52.18% in September, supporting its enchancment in the rating.
3. ARM Discovery Balanced Fund (53.16%)
The ARM Discovery Balanced Fund, managed by ARM Investment Managers Limited, recorded a YTD return of 53.16%, slipping one place from second in August.
The fund manages N17.79 billion in belongings and serves 24,360 unitholders, with a suggestion value of N1,511.12. It is probably the most extensively held fund among the many September high 10 by quantity of unitholders.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,658,000 in returns by September, bringing the overall funding worth to N7,658,000.
ARM Discovery Balanced Fund has appeared in eight of the 9 month-to-month top-10 rankings in 2026, lacking solely April.
The fund’s YTD return improved from 52.06% in August to 53.16% in September, though it surrendered second place to Nigeria Energy Sector Fund.
2. Nigeria Energy Sector Fund (58.72%)
The Nigeria Energy Sector Fund, managed by SCM Capital Limited, recorded a YTD return of 58.72%, coming into the September high 10 in second place after falling outdoors the rating in August.
The fund manages N3.42 billion in belongings and serves 823 unitholders, with a suggestion value of N552.22.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N2,936,000 in returns by September, bringing the overall funding worth to N7,936,000.
Nigeria Energy Sector Fund has appeared in six of the 9 month-to-month top-10 rankings in 2026, beforehand that includes in February, March, April, May and July.
Its return elevated sharply from 36.71% in August to 58.72% in September, permitting it to maneuver forward of a number of established performers and emerge as the second-best-performing balanced mutual fund.
1. Capital Express Balanced Fund (72.33%)
Leading the September rating is Capital Express Balanced Fund, managed by Capital Express Asset and Trust Limited, with a YTD return of 72.33%.
The fund retained its main place for the third consecutive month, having additionally ranked first in July and August.
It manages N3.97 billion in belongings and serves 2,741 unitholders, with a suggestion value of N9.41.
An investor who positioned N5 million in this fund at the start of 2026 would have earned roughly N3,616,500 in returns by September, bringing the overall funding worth to N8,616,500, the best among the many ten funds in the rating.
Capital Express Balanced Fund has appeared in each month-to-month top-10 rating from January by September 2026, making it the one fund to keep up an ideal nine-month look document.
Its YTD return elevated from 69.18% in August to 72.33% in September, extending its lead over Nigeria Energy Sector Fund to 13.61 share factors.
