AIICO BALANCED FUND NEWSLETTER – MAY 2026
OVERVIEW
AIICO Balanced Fund is an open-ended mutual fund, investing in Fixed income instruments, Money market instruments and both Quoted and Unquoted equities.
INVESTMENT OBJECTIVE
The investment objective of the Fund is to create medium to long term capital growth as well as yearly income streams from declared dividends for unit holders. The fund also provides investors with the opportunity diversify their investments into products that would hitherto have been more difficult to invest in.
FUND PERFORMANCE
The AIICO balanced fund closed the month of May ’26 with a YTD return of 24.63%
Nigerian equities extended their rally for a fifth consecutive month, with the NGX ASI gaining 3.4%. Momentum moderated as profit-taking increased, with investors rotating toward undervalued mid- and small-cap stocks.
The NTB market remained relatively stable, supported by strong liquidity and demand for longer-tenor instruments. Rising inflation and month-end profit-taking pushed the average yield higher to 17.51%. FGN Bond yields rose across maturities amid broad-based repricing and higher medium-term risk premiums. The 7-year tenor recorded the largest increase, while the relatively low 10-year yield suggested expectations of longer-term monetary easing.