Nova Prime Money Market Fund

The Nova Prime Money Market Fund, managed by Novambl Asset Management, is a small fund currently sitting near the bottom of its category, ranked #45 of 47 among Money Market Funds and #206 of 222 across all fund types. Its Net Asset Value (NAV) stands at ₦193.42M, with just 123 unitholders, making it one of the more lightly subscribed options in the market. The most recent Week-to-Date (WTD) yield, which measures how much the fund earned over the past week expressed as an annual rate, came in at 14.86%. That figure matches the Year-to-Date (YTD) yield of 14.86%, suggesting the data reflects a relatively short track record or a recent reset in the reporting period.

What stands out in the recent history is a notable dip in NAV to ₦171.19M on 26 June 2026, down sharply from ₦192.43M the week before, before recovering to ₦193.42M by 3 July 2026. This kind of swing in a money market fund, which is normally expected to be a very stable, low-risk vehicle for short-term savings, is worth noting. Alongside that, the fund's current WTD yield of 14.86% sits below the median WTD yield of 16.88% among its peers, meaning more than half of all money market funds in the same category are currently delivering higher returns. The yield has also trended downward from 15.66% the previous week, continuing a broader softening from the 15.36% to 15.40% range recorded in early June 2026.