By MICHAEL EBOH

The value of mutual funds listed in the secondary segment of the Nigerian capital market depreciated by N5.374 billion in one month.

Specifically, the Net Assets Value, NAV of the 45 mutual funds, listed in the memorandum quotation segment and equities segment of the Nigerian Stock Exchange, NSE, shed 6.16 per cent to close at N81.891 billion as at the end of August 2012, from N87.265 billion recorded in the last week of July.

However, the NAV of the funds appreciated marginally by 0.09 per cent in the last one week, rising by N77 million from N81.814 billion recorded in the week ending, August 24, 2012, to N81.890 billion for the week ended, August 31, 2012.

The Equities segment of the Nigerian capital market appreciated by 2.99 per cent in the month of August. The market capitalization, representing the value of listed equities appreciated by N219.998 billion from N7.34 trillion recorded at the start of the month, to close at N7.56 trillion.

Driven by improvement in the equities’ market in the month of August, Equity Based Mutual Funds, recorded the highest Net Asset Value of N42.829 billion, accounting for 52.3 per cent of the total NAV of the 45 mutual funds. Equity Based Fund’s NAV also appreciated by 2.1 per cent from N41.949 billion recorded at the end of July.

Real Estate Fund followed with a NAV of N16.397 billion, rising by 0.44 per cent from N16.326 billion recorded in July and accounting for 20.02 per cent of the sectors’ total NAV.

Balanced based Funds trailed with a NAV of N11.939 billion, appreciating by 32.54 per cent from N9.008 billion recorded in July and accounting for 14.58 per cent of the total NAV.

Money Market Funds recorded a total NAV of N9.482 billion, rising by 7.37 per cent from N8.832 billion in July; Ethical Fund recorded NAV of N5.805 billion, rising by 1.45 per cent from N5.722 billion recorded in July; Bond Fund’s NAV stood at N4.921 billion, dropping by 2.54 per cent from N5.049 billion in July, while New Gold Exchange Traded Fund appreciated by 1.42 per cent to close the month of August at N384.75 million from sN379.35 million recorded in July.

Union Homes Real Estate Investment Trust Scheme, managed by Union Homes Savings and Loans Plc recorded the highest NAV of N14.113 billion; Stanbic IBTC Nigerian Equity Fund, managed by Stanbic IBTC Asset Management Limited followed with a NAV of N12.895 billion and Stanbic IBTC Money Market Fund, also managed by Stanbic IBTC Asset, recorded a NAV of N9.273 billion.

ARM Discovery Fund, managed by Asset and Resources Management Company Plc recorded NAV of N4.885 billion; FBN Heritage Fund, managed by FBN Capital Limited recorded NAV of N4.351 billion; SIM Capital Alliance Fund, managed by SIM Capital Alliance Plc, recorded NAV of N3.673 billion and Zenith Equity Fund, managed by Zenith Capital Limited posted NAV of N3.585 billion.

Others are: Coral Growth Fund, managed by FSDH Asset Management Limited with a NAV of N3.367 billion; Stanbic IBTC Ethical Fund, managed by Stanbic IBTC Asset, with a NAV of N2.975 billion and Kakawa Guaranteed Income Fund, managed by Kakawa Asset Management Company Limited recorded NAV of N2.937 billion.