Best Shariah-Compliant (Imaan) Funds in Nigeria
Nigeria has 20 SEC-registered Shariah-compliant funds giving investors a halal way into money markets, fixed income, and equities, and yields vary just as much here as anywhere else. We rank them below by yield and size, current as of 19 June 2026, and it updates itself the moment SEC publishes new figures.
Shariah-compliant funds, often marketed as Imaan or halal funds, screen out interest-bearing instruments and non-compliant sectors while still spanning money market, fixed income, and equity strategies. Across the 20 funds tracked here, published yields currently range from -1.53% to 13.08%, a spread of 14.61% between the highest and lowest performer this reporting week.
ARM Sharia Compliant Fixed Income Fund, managed by ARM Investment Managers Limited, currently leads on week-to-date yield at 13.08%, with a net asset value of ₦1.52B. Because this list spans three different underlying strategies, money market, fixed income, and equity, check a fund's specific type in the leaderboard before comparing it directly to another.
Top 10 Shariah-compliant funds
Tap a metric to re-rank. Tap a fund to see its full numbers.
Ranking updates automatically as new SEC fund data is published.
Why these numbers move
Week-to-date yield reflects only the most recent SEC reporting week, annualised. It moves the most from update to update, since it is sensitive to that week's short-term conditions.
Year-to-date yield smooths this out by tracking cumulative performance since January, so it is a steadier signal if you are comparing funds over a longer horizon.
Fund size (NAV) tells you how much money other investors have placed in the fund. It is a signal of scale and trust, not a signal of return, so a large fund is not automatically a higher-yielding one.
See what a Shariah-compliant fund return could mean for your money
Shariah-compliant funds range from money-market-like stability to full equity exposure depending on the fund, so there’s no single typical yield. Adjust the amount and rate below to test different scenarios.
Estimated balance
after 1 year · gain: NGN 876
The three types of Shariah-compliant funds
Shariah-compliant funds aren’t one strategy, here’s how the three types compare to each other.
| Shariah equity funds | Shariah fixed income funds | Shariah balanced funds | |
|---|---|---|---|
| Median WTD yield | 0.03% | 0.31% | -0.24% |
| Funds tracked | 12 | 7 | 1 |
| Total NAV | ₦70.44B | ₦52.83B | ₦20.39B |
| Risk level | High (Shariah-screened) | Low-medium (Shariah-screened) | Medium (Shariah-screened) |
| Liquidity | Medium | Medium | Medium |
| Typical horizon | 5+ years | 1-5 years | 3-7 years |
Yield, fund count, and NAV are live SEC figures. Risk, liquidity, and horizon are general characteristics of each fund type, not fund-specific guarantees.
About ARM Investment Managers Limited
ARM Investment Managers Limited manages the current top-ranked fund by week-to-date yield, ARM Sharia Compliant Fixed Income Fund, and runs 10 funds tracked on this site in total.
Frequently asked questions
What is a Shariah-compliant (Imaan) fund?+
A Shariah-compliant fund invests only in instruments and companies that meet Islamic finance principles, avoiding interest-bearing debt and sectors like alcohol, gambling, and conventional banking. In Nigeria these are SEC-regulated and often marketed as Imaan or halal funds.
What is the difference between Shariah equity, fixed income, and balanced funds?+
Shariah equity funds invest in Shariah-screened company shares and carry the most risk and growth potential. Shariah fixed income funds hold Shariah-compliant income instruments such as sukuk, and are lower risk. Shariah balanced funds mix both approaches. Check a fund’s specific type before comparing it to another on this list.
Are Shariah-compliant funds risk-free?+
No. Risk depends on the specific fund type: a Shariah equity fund carries meaningfully more risk than a Shariah fixed income fund. Being Shariah-compliant affects what the fund can invest in, not how much its value can move. Always confirm a fund manager’s SEC registration before investing.
How often does this ranking update?+
This page is generated from the latest SEC collective investment scheme report (currently dated 19 June 2026). Rankings and figures refresh automatically each time SEC publishes new fund data, no manual editing required.
Does a bigger fund mean a better return?+
Not necessarily. A fund’s net asset value (NAV) reflects its size, not its yield. Some of the largest Shariah-compliant funds by NAV are not the highest-yielding, and smaller funds can post competitive returns. Check both figures separately before deciding.
Educational use only. Figures are useful for comparison but are not investment advice.