Capital Express Balanced Fund, Nigeria Energy Sector Fund and ARM Discovery Balanced Fund emerged as Nigeria’s three best-performing balanced mutual funds in September 2026, with year-to-date returns of 72.33 per cent, 58.72 per cent and 53.16 per cent, respectively.
The performance data show that the three funds outperformed the other products in the balanced mutual fund category, although their returns varied considerably, according to an analysis of Securities and Exchange Commission data.
Capital Express retained the top position for the third consecutive month, while Nigeria Energy Sector Fund climbed to second place after dropping out of the top 10 in August. ARM Discovery, which ranked second in August, moved down one position despite recording a higher return.
The performance came as the net asset value of Nigeria’s balanced mutual fund segment increased to N191.02bn in September from N154.13bn in August, representing a monthly rise of 23.94 per cent.
The segment comprised 31 funds and accounted for 1.98 per cent of the country’s total mutual fund assets of N9.66tn.
Capital Express Balanced Fund, managed by Capital Express Asset and Trust Limited, delivered a year-to-date return of 72.33 per cent, the highest among the funds assessed.
Its return increased from 69.18 per cent in August, extending its lead over the second-placed fund to 13.61 percentage points.
The fund managed N3.97bn in assets and had 2,741 unitholders as of September, with an offer price of N9.41.
Its consistent performance also distinguished it from competitors. Capital Express appeared in the top 10 in every month from January to September 2026 and held the leading position in July, August and September.
Based on its reported year-to-date return, an investment of N5m at the beginning of the year would have generated a theoretical gain of about N3.62m by September, bringing the investment’s value to approximately N8.62m, assuming the return applied to the same investment period and before any applicable fees or taxes.
The performance, however, does not guarantee similar returns in the coming months, as balanced funds remain exposed to market movements.
Nigeria Energy Sector Fund, managed by SCM Capital Limited, recorded a year-to-date return of 58.72 per cent to rank second in September.
The fund made a strong comeback after falling outside the top 10 in August, when its reported return stood at 36.71 per cent.
Its September return placed it ahead of ARM Discovery Balanced Fund and several other established performers.
The fund had N3.42bn in assets and 823 unitholders, with an offer price of N552.22.