Olubusola Jejelowo, chief executive of Stanbic IBTC Asset Management, has emerged as the highest-ranked executive in Nigeria’s mutual fund industry as of June 2026.
The ranking assessed fund managers using two major indicators: year-to-date investment returns and net asset value. This approach rewarded firms that generated competitive returns while attracting and managing substantial investor assets.
CardinalStone Asset Management’s Oluwaseyi Osunlalu placed second. Samson Esemuede of Zrosk Investment Management and Taiwo Yusuf of Meristem Wealth Management followed among the leading executives.
The results reflect an expanding investment market supported by strong equity returns, high fixed-income yields and rising participation from retail investors.
How the mutual fund executives were ranked
The assessment did not rank executives solely by the returns generated by their funds.
Instead, it combined each asset manager’s average year-to-date return position with its net asset value ranking. The final position came from the average of both indicators.
Therefore, a company with very high returns but limited assets could rank below a larger firm with more moderate performance. Similarly, a manager with substantial assets could benefit from its market scale.
The methodology provides a broader view of performance. However, investors should not interpret the ranking as a direct measurement of each chief executive’s individual contribution.
Mutual fund results also depend on portfolio managers, investment committees, market conditions, asset allocation and risk-management policies.
Olubusola Jejelowo takes the top position
Olubusola Jejelowo ranked first through the combined strength of Stanbic IBTC Asset Management’s scale and investment performance.
The company managed approximately ₦3.9 trillion across 12 mutual funds. It also served more than 457,000 investors during the period under review.
Stanbic IBTC ranked first by net asset value, making it the largest asset manager included in the assessment.
However, it placed 16th in average year-to-date performance, with a return of 21.73%. Its dominant asset base lifted it to first place under the combined methodology.
Jejelowo became chief executive in 2023 after holding senior positions within the company. She previously served as executive director for investment management and business development.
Her leadership strategy has focused on diversified investment products, institutional credibility and broader retail participation.
CardinalStone’s Osunlalu places second
Oluwaseyi Osunlalu of CardinalStone Asset Management secured second place in the overall ranking.
CardinalStone managed about ₦98.14 billion across five mutual funds. The company recorded an average year-to-date return of 24.61%, placing ninth for investment performance.
CardinalStone’s position shows that medium-sized asset managers can compete with larger institutions by combining strong performance with a growing investor base.
It ranked 13th by net asset value. The balance between its return and asset size produced the second-best combined score.
Osunlalu took over the company’s leadership in 2023. Her professional background covers wealth management, credit analysis, financial planning, research and product development.
Zrosk delivers the strongest return among the leaders
Samson Esemuede of Zrosk Investment Management finished joint third despite managing a smaller asset base than many competitors.
Zrosk managed one mutual fund with net assets of approximately ₦22.8 billion. However, it generated an average year-to-date return of 60.28%.
That performance placed Zrosk second among all fund managers by investment return.
The company ranked 22nd by net asset value. Nevertheless, its exceptional return lifted its combined score and secured a leading position.
Zrosk’s performance reflects the potential benefits of an equity-focused, high-conviction investment strategy. However, investors must also consider the risks linked to concentrated or aggressive portfolios.
Past returns do not guarantee future performance, particularly in a volatile equities market.
Meristem maintains strong market position
Taiwo Yusuf of Meristem Wealth Management ranked fourth.
Meristem managed about ₦144.78 billion across four mutual funds. It served more than 14,300 investors during the review period.
The company recorded an average year-to-date return of 21.98%, placing 15th by performance. It ranked ninth by net asset value.
Meristem’s position reflects its balance between scale, diversified investment products and competitive returns.
Yusuf has led the firm for more than a decade. His experience covers commercial banking, capital markets, investment banking and multi-asset portfolio management.
Zedcrest enters the top five with strong returns
Renah Omo Osiemi of Zedcrest Investment Managers completed the top five group.
Zedcrest managed about ₦31.22 billion across four mutual funds and served nearly 14,500 investors. It recorded an average year-to-date return of 29.88%.
That return placed the company fifth for investment performance.
However, Zedcrest ranked 20th by net asset value. Its strong yield helped offset its smaller asset base and supported its joint fifth-place position.
The result demonstrates how active investment management can strengthen the visibility of smaller fund managers.
AXA Mansard and FSDH benefit from scale
Deji Tunde-Anjous of AXA Mansard Investments ranked sixth.
AXA Mansard managed approximately ₦207.81 billion across three mutual funds. The business served more than 44,000 investors.
It recorded an average year-to-date return of 21.23%, placing 19th by performance. However, its seventh-place net asset value position improved its overall ranking.
Toyin Owolabi of FSDH Asset Management followed in seventh place.
FSDH managed about ₦129.72 billion across five mutual funds. It recorded an average year-to-date return of 21.27% and ranked 10th by net asset value.
Both companies demonstrate how a sizeable and stable asset base can support an asset manager’s overall market position.
Zenith, Lotus and United Capital complete the list
Oluwaseyi Akinsuli of Zenith Asset Management ranked eighth.
Zenith managed approximately ₦167.33 billion across three mutual funds and served more than 16,600 investors. Its average return reached 21.11%, while the firm ranked eighth by net asset value.
Hajara Adeola of Lotus Capital placed ninth.
Lotus Capital managed approximately ₦65.21 billion across three funds. The company recorded an average year-to-date return of 23.24% and served more than 30,900 investors.
Lotus Capital remains a major provider of Shariah-compliant and ethical investment products in Nigeria.
Dr Odiri Oginni of United Capital Asset Management completed the top 10.
United Capital managed approximately ₦747.7 billion across nine mutual funds, serving more than 127,000 investors. It ranked fourth by net asset value but 28th by return, with an average yield of 18.31%.
Its substantial asset base secured its position despite its comparatively lower short-term return.
Top 10 mutual fund executives as of June 2026
- Olubusola Jejelowo — Stanbic IBTC Asset Management
- Oluwaseyi Osunlalu — CardinalStone Asset Management
- Samson Esemuede — Zrosk Investment Management
- Taiwo Yusuf — Meristem Wealth Management
- Renah Omo Osiemi — Zedcrest Investment Managers
- Deji Tunde-Anjous — AXA Mansard Investments
- Toyin Owolabi — FSDH Asset Management
- Oluwaseyi Akinsuli — Zenith Asset Management
- Hajara Adeola — Lotus Capital
- Dr Odiri Oginni — United Capital Asset Management
What the ranking means for investors
The ranking shows that size and returns do not always move together.
Stanbic IBTC led because it managed the largest pool of mutual fund assets. Zrosk, meanwhile, delivered a much higher average return despite operating at a smaller scale.
Investors should therefore avoid choosing a mutual fund based on one ranking alone.
They should examine the fund’s underlying assets, fees, risk level, historical consistency and redemption conditions. They should also consider whether the fund matches their financial goals and investment timeline.
A high-return equity fund may suit an investor with a higher risk tolerance. However, a money market or fixed-income fund may suit someone who prioritises capital preservation and stable income.
