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Nigerian mutual fund industry sees 23.6 percent growth year-to-date

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The Nigerian mutual fund industry has expanded 23.6 per cent to N186.5 billion, going by the latest official asset size values for August 2014. Meanwhile, money market funds surge 122.9 per cent, as equity funds are left 3.8 per cent in the red.

Mutual funds are collective investments that join various individual contributions of investment capital to create a large pool of funds. They are usually operated by money managers, who invest the fund’s capital and attempt to produce capital gains and income for the fund’s investors. Currently, there are 21 mutual funds listed on the Nigerian Stock Exchange (NSE).

Article Credit: Businessdayonline

Updated 4 Years ago

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Tags:     Nigerian Mutual Fund Industry     Nigerian Stock Exchange