The net asset value of the Nigeria’s Mutual Fund has grew by 50 percent in 2020, data from the Security and Exchange Commission (SEC), has indicated.
The analysis of the industry reveals that in 2020, mutual fund contributions amounted to about N0.903 trillion while redemptions amounted to about N0.42 trillion.
The same analysis points to the fact that mutual funds gathered an estimated sum of N46.7 billion in gains.
Compared to 2019, the capital activities, comprising of subscriptions and redemptions were slightly far afield. In 2019, subscriptions stood at N0.52 trillion while redemptions came up to N0.14 trillion, resulting in a net inflow of N0.38 trillion. Net inflows for 2020 stands at N0.483 trillion.
Unlike in 2019, when mutual funds made an estimated gain of N9.9 billion, the N46.7 billion made in 2020, makes Corona Virus a non-issue for the industry.