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Market Slice: Top Performing Mutual Funds in July 2021

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Market slice is a monthly summary of mutual funds on Cowrywise and key money news. We share this jargon-free report every month. Contribute your lessons on Mutual Funds in July 2021 using the hashtag: #MarketSlice.

Hiya again 🔔

When the DJ starts playing Dorime in a Nigerian bar, just know that a certain person is about to spend their emergency fund. Do songs influence you to make impulsive decisions? If your answer is no, then you’ve not been to a proper Nigerian owambe, once they begin singing your name – “dazz it!” For some weird reason, I hear Dorime has a similar effect. 🌚

In other money-spending news, a research article I stumbled upon talked about how the more expensive a wedding is, the higher the chances of a divorce. Share your lavish wedding tales with me in the comment section below. Now to funds updates…🤑

Mutual Funds in July 2021

Best performing Conservative Funds in July 2021

The rates on conservative funds have been increasing steadily since February 2021. These funds are invested majorly in money market instruments such as T-bills, and fixed-income securities such as government bonds and corporate bonds. Only bonds from A-grade firms are added for safety.

What are A-grade firms?

“Companies with these ratings are considered to be stable entities with robust capacities for repaying their financial commitments. Credit ratings are extremely important because they convey the risk associated with buying a certain bond. An investment-grade credit rating indicates a low risk of a credit default, making it an attractive investment vehicle—especially to conservative investors.” – Investopedia

top conservative funds in July 2021

Top fixed income & balanced funds (NGN) in July 2021

Under fixed-income and bond funds, halal investment has been on top of its game since February 2021.

These bond funds contributed majorly to the performance of mutual funds in H1 2021. Whoosh! 🚀

top fixed income and balanced funds in July 2021

Top fixed income & balanced funds ($) in July 2021

top fixed income and balanced funds (USD) in July 2021

Investing in stock and high performing assets has gotten juicier since the beginning of the year. 🤩 This means that the market has been favourable to equity investors that are in it for the long run.

Best performing Equity Funds in July 2021

top equity mutual funds (NGN) in July 2021

2021 is looking really good! Start investing in mutual funds on Cowrywise to enjoy this growth. 🗣

To start investing with mutual funds today:

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🤔 It seems like people are really in need of liquid cash

According to the June 25th NAV (Net Asset Value) report summary by the SEC, there has been a 12.71% drop in the total size of mutual funds in Nigeria, it dropped from 1.57 Trillion Naira in December 2020 to 1.37 Trillion Naira on June 25, 2021; this was caused by the high amount of redemption of funds. Investors redeemed twice as much as they invested in the first half of 2021.

Are you one of the investors who redeemed their funds?

📸 Data Snap of the Month

🚀 It’s the growth for me!

There are 12 new mutual funds, bringing the total number of mutual funds in Nigeria to 128.

Additionally, one of the major goals for most Pension Fund Administrators (PFA) in the Nigerian market is to increase their AUM (Asset Under Management). ARM Pension is gaining strides as their AUM hit a 1 Trillion Naira milestone. 🚀

Wishing Europe well 💔

The recent flood in Europe has devastatingly left the continent in much mourning, 229 people died from it! And the loss of property is worth €2.55 billion. As we pray for a quick recovery, this will be a tough time for insurance companies over there too.

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