The Afrinvest Halal Fund has experienced four consecutive weeks of negative Week-to-Date (WTD) returns, with its most recent WTD yield at -1.06%, the steepest weekly decline in the period shown. Over that stretch, the fund's Net Asset Value (NAV) has slid from ₦670.07M on 5 June 2026 to ₦648.23M on 3 July 2026, a drop of roughly ₦21.84M. This recent weakness also puts the fund behind its peers for the week: the median WTD yield across Shariah-Compliant Equity Funds (funds that invest only in companies meeting Islamic finance principles, meaning no interest-based businesses) was 0.18%, while the Afrinvest Halal Fund came in at -1.06%, underperforming that midpoint by 1.24 percentage points. Among its 12 category peers, it currently ranks #7 of 12.
Despite the short-term pressure, the fund's Year-to-Date (YTD) return of 11.64% shows that, measured from the start of the year, investors are still sitting on meaningful gains. The fund is relatively small, with a NAV of ₦648.23M, placing it at #173 of 222 across all funds tracked, and it serves a tight community of just 110 unitholders (the individuals or organisations who own units in the fund). That small unitholder base means the fund's NAV can move more noticeably when even a few participants add or withdraw money, which may partly explain the recent NAV softness alongside broader market moves.
Key insight: While the fund's YTD gain of 11.64% remains positive, five weeks of falling NAV and a current WTD yield of -1.06% against a peer median of 0.18% signal that short-term momentum has turned negative relative to the rest of its category.
