By MICHAEL EBOH
The Net Asset Value, NAV, of mutual funds listed on the memorandum quotation segment of the Nigerian Stock Exchange, NSE, appreciated by N928.059 million in one week.

Specifically, the mutual funds’ value rose by 1.07 per cent to N88.046 billion as at March 23, 2012, from N87.118 billion recorded in the week ended, March 16, 2012.

Equities based funds, with a total NAV of N40.618 billion, recorded the highest valuation for the week ended, March 23, 2012, followed by Real Estate funds with a total NAV of N16.543 billion.

Balanced based funds recorded total NAV of N12.297 billion, Money Market fund recorded total NAV of N6.101 billion, Ethical Funds’ NAV stood at N5.708 billion while Bond Funds trailed with a NAV of N5.585 billion.

Union Homes Real Estate Investment Trust Scheme, managed by Union Homes Savings and Loans Plc, recorded the highest NAV of N14.313 billion, followed by Stanbic IBTC Nigerian Equity Fund, managed by Stanbic IBTC Asset Management Limited with a NAV of N12.568 billion and Stanbic IBTC Money Market Fund also managed by Stanbic IBTC Asset, with a NAV of N5.884 billion.

ARM Discovery Fund, managed by Asset and Resources Management, ARM, Company Limited recorded a NAV of N4.548 billion; FBN Heritage Fund, managed by First Bank of Nigeria Plc, recorded NAV of N4.061 billion, SIM Capital Alliance Fund, managed by SIM Capital Alliance Limited’s NAV stood at N3.436 billion and Zenith Equity Fund, managed by Zenith Bank Plc posted NAV of N3.409 billion.

Others in the top-ten category are: Coral Growth Fund, managed by FSDH Asset Management Limited, N3.235 billion; Stanbic Ethical Fund, managed by Stanbic IBTC Asset, N2.811 billion and Kakawa Guaranteed Income Fund, managed by Kakawa Asset Management Company Limited, N2.809 billion.