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10 biggest fund managers by value in 2022

10 biggest fund managers by value in 2022

Stanbic IBTC, FBNQuest, United Capital Asset Management, and 7 other firms have emerged as the top ten of the Securities Exchange Commission (SEC)-regulated mutual fund asset managers in Nigeria, having 147 total products under management in December 2022.

According to the top 10 SEC-regulated mutual fund asset managers in Nigeria by Money Counsellors, the firms had assets worth N1.5 trillion in 2022.

The other biggest SEC-regulated mutual fund asset managers are Chapel Hill Denham Management, ARM Investment Management, Guaranty Trust Fund Managers, AXA Mansard Investments, Quantum Zenith Asset Management & Investment, Lotus Capital, and SFS Capital Nigeria.

Stanbic IBTC Asset Management led the pack, having assets worth N627.34 billion with 17 products managed. This represents 41.3 percent of the total top 10 asset managers worth N1.5 trillion.

FBNQuest Asset Management followed with assets worth N238.11 billion, accounting for six products in 2022. This indicates 15.7 percent of N1.5 trillion assets worth by the top 10 asset managers.

United Capital Asset Management came third with N229.62 billion worth of assets, this indicates eight products in 2022. This represents 15.1 percent of the total asset worth by the top 10 asset managers.

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Chapel Hill Denham Management accounted for seven products with assets worth N109.23 billion. This indicates 7.2 percent of the total assets worth by the top 10 asset managers.

Similarly, ARM Investment Management accounted for seven products with N82.33 billion worth of assets. This indicates 5.4 percent of the assets worth by the top 10 asset managers.

Guaranty Trust Fund Managers had assets worth N38.48 billion under management which accounted for five products in December 2022. This represents 2.5 percent of the assets worth by the top 10 asset managers in 2022.

AXA Mansard Investments accounted for assets worth N35.54 billion with three products under management. This represents 2.3 percent of the assets worth by the top 10 asset managers in the reviewed period.

Quantum Zenith Asset Management & Investment had assets worth N23.75 billion which represents four products. This indicates 1.5 percent of assets worth by the top 10 asset managers.

Lotus Capital assets were worth N19.54 billion with three products under management. This represents 1.3 percent worth of asset of the total assets by the top 10 asset managers in 2022.

SFS Capital Nigeria completed the list with three products worth N18.79 billion. This indicates 1.2 percent of assets worth by the top 10 asset managers.