Nova Dollar Fixed Income Fund

The Nova Dollar Fixed Income Fund's most striking recent development is the sharp spike in its Week-to-Date (WTD) yield to 6.69% on 26 June 2026, followed immediately by a drop to -0.41% the following week. That swing stands out sharply against a backdrop where the median WTD yield among Dollar Funds is just 0.11%. The fund's Net Asset Value (NAV) also jumped from ₦432.03M to ₦462.97M during that same week, a gain of roughly ₦31M, before edging up slightly to ₦465.13M most recently. For the full year so far, the Year-to-Date (YTD) yield sits at 1.71%, which provides some positive context, though the fund ranks #36 of 40 in its Dollar Funds category and #186 of 222 across all funds overall.

The fund is managed by Novambl Asset Management and currently has just 2 unitholders, making it an extremely small and lightly subscribed fund by Nigerian mutual fund standards. With so few investors, any single large deposit or withdrawal can cause dramatic swings in the NAV and yield figures from one week to the next. This is likely what drove the unusual 6.69% WTD spike seen on 26 June 2026, rather than an underlying shift in the fund's investment performance. The negative -0.41% WTD yield that followed suggests a partial reversal of whatever activity caused that jump. Investors should keep this context in mind when reading the fund's short-term numbers, as they may not reflect the kind of steady returns a larger, more diversified fund might show.