The DLM Money Market Fund emerged as the best-performing money market fund in July 2026, delivering a year-to-date (YTD) yield of 20.69 per cent and climbing four places from fifth position in June.
Managed by DLM Asset Management Limited, the fund is part of DLM Capital Group, led by Group Chief Executive Officer Sonnie Ayere. It had N2.07bn in assets under management and 317 unitholders, with each unit priced at N1,000.
The Coronation Money Market Fund ranked second with a year-to-date yield of 20.22 per cent, although it dropped from the top position recorded in June.
Managed by Coronation Asset Management Limited, the fund oversees N98.55bn in assets held by 20,347 unitholders, making it the largest fund by assets under management and the most widely held among the top three performers.
The RT Briscoe Savings & Investment Fund came third, posting a YTD yield of 20.13 per cent and falling one position from second place in June.
The fund, managed by DLM Asset Management Limited, is backed by RT Briscoe Nigeria Plc, led by Group Managing Director Seyi Onajide. It had N520.46m in assets and 63 unitholders, with units priced at N1,000.
The July ranking followed a strong performance by money market funds amid sustained investor demand for relatively high-yielding, low-risk investment instruments.
In June, the money market fund segment had combined assets of N5.97tn, representing 65.52 per cent of total industry assets, with 800,050 unitholders.
The June performance leaders were Coronation Money Market Fund, RT Briscoe Savings & Investment Fund and First Ally Money Market Fund, which posted YTD yields of 20.54 per cent, 20.30 per cent and 20.01 per cent, respectively.
The July results indicate a reshuffling at the top, with DLM Money Market Fund recording the strongest YTD return and Coronation and RT Briscoe following closely behind.