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The short answer
The ARM Money Market Fund is an SEC-registered unit trust run by ARM Investment Managers that holds Treasury bills and other short-term instruments. Its September 2025 factsheet lists a ₦1,000 minimum, a 1.5% management fee and a 90-day minimum holding period; the yield is not fixed and ARM publishes a 7-day rolling yield that moves with money market rates.
What the fund is and who holds the money
The ARM Money Market Fund is an open-ended unit trust. Open-ended means new units are created when you invest and cancelled when you redeem, so there is no fixed number of investors or closing date. ARM's own FAQ page describes it as registered under section 160 of the Investments and Securities Act 2007 and investing in short-term money market instruments and government securities.
Three separate parties are involved, and knowing which does what is the most useful thing you can learn about any Nigerian mutual fund:
- Fund manager
- ARM Investment Managers, which decides what to buy and sell within the fund's rules.
- Trustee
- First Trustees Nigeria Ltd, named on the September 2025 factsheet. A trustee watches the manager on behalf of unit holders.
- Custodian
- The bank that physically holds the fund's assets. The September 2025 factsheet names Rand Merchant Bank Limited; ARM's older FAQ page still names Citibank Nigeria. Treat the newer factsheet as the better guide and ask ARM to confirm.
The factsheet puts the fund's size at ₦265.74 billion in assets as at September 2025 and gives a launch year of 2013. It rates the fund's risk as low. Low risk is not no risk: the value of units can move, and ARM's FAQ states plainly that the fund cannot guarantee a return.
How the yield is set
Nobody at ARM picks a rate and promises it to you. The return comes from the interest earned on what the fund holds, minus its costs. According to the September 2025 factsheet, about 37.75% of the fund was in government securities and 62.25% in other short-term instruments, all maturing within a year. When Treasury bill and deposit rates in Nigeria rise, new purchases earn more and the yield drifts up; when they fall, it drifts down. The factsheet benchmarks the fund against the average stop rate at the 91-day Treasury bill primary auction.
What ARM publishes
- A 7-day effective rolling yield, which ARM's FAQ says is communicated by email and posted on its website. It is an annualised figure based on the last seven days, so it is a snapshot, not a promise.
- A monthly factsheet with performance calculated NAV-to-NAV with dividends reinvested, the fee, the expense ratio and the asset mix.
- Your own statement, which shows what your units actually earned.
Costs that sit inside the yield
The September 2025 factsheet lists a management fee of 1.5% of net asset value and a total expense ratio of 2.05% for the year to date. The expense ratio is the fuller measure because it adds custody, trustee and other running costs to the management fee. These come out of the fund, not out of a separate bill to you, so ask whether a quoted yield is before or after them.
Minimum, holding period and how to invest
Here the two ARM pages disagree, which is worth knowing before you plan. The September 2025 factsheet lists a minimum investment of ₦1,000. ARM's FAQ page, which appears older, gives ₦5,000 for a first investment and ₦1,000 multiples after that. Use the factsheet as the more recent figure and confirm on the subscription screen.
The factsheet also sets a 90-day minimum holding period. It does not say what happens if you redeem earlier; ask ARM whether an early-exit charge applies before you put in money you may need within three months.
Steps
- Have a valid ID, your BVN and your bank details to hand. ARM's pages we read do not list the exact documents, but the bank account is needed for income and redemptions.
- Open an account through ARM's online client portal (the FAQ links to it as "Invest Now") or at an ARM Investment Centre.
- Complete the subscription form for the Money Market Fund.
- Pay by one of the channels ARM's FAQ lists: card, bank transfer, bank deposit, direct debit, Quickteller, cheque or mobile money.
- Send the form and proof of payment if you are not doing it all online, then wait for your unit confirmation.
Income and redemption
ARM's FAQ says the unit price is kept at ₦1, so your units do not visibly rise in price. Instead, income is paid as dividends at the end of each calendar quarter. You choose at the start whether to reinvest them or have them sent to your bank account.
Redeeming works through a signed redemption form or the online equivalent, and ARM's FAQ says processing "should not exceed one working day" after it receives the form. There is one wrinkle: if you take out part of your money before the quarter ends, you receive the capital then, and the income earned on it up to that date is paid with the next quarterly distribution.
Worked example
Example only, using an invented yield. Tunde puts ₦500,000 into the fund and the yield averages 15% a year over a quarter. Simple income for the quarter is ₦500,000 × 15% ÷ 4 = ₦18,750. If he reinvests, the next quarter earns on ₦518,750. If rates fall and the yield averages 12% instead, the same quarter pays ₦15,000. The difference is why the published yield should be read as a guide, not a contract.
What to check first
- The current 7-day yield and the date it was published.
- The latest factsheet's minimum, holding period and expense ratio.
- Whether an early exit inside 90 days costs you anything.
- That the trustee and custodian are named and match ARM's latest documents.
- How you want quarterly income paid: reinvested or to your bank.
For the general mechanics of these funds, see our guide to money market funds in Nigeria, and compare with the FBN Money Market Fund.
Where Pryme fits
Pryme does not sell mutual funds. If you want to keep short-term naira savings separate from spending while you decide, Savings Boxes held with Solid Allianze MFB offer Flexible, Fixed, Investment and Interest-free options, with current rates shown in the app. Redemptions from ARM can be paid to your Pryme naira account like any bank account; see how Pryme works.
Questions people ask
What is the minimum to invest in ARM Money Market Fund?
ARM's September 2025 factsheet lists ₦1,000. An older ARM FAQ page says ₦5,000 for a first investment, so confirm on the subscription screen.
How much does ARM Money Market Fund pay per month?
There is no fixed monthly figure. ARM publishes a 7-day rolling yield that moves with money market rates, and income is paid quarterly. Check the current yield on ARM's site or app.
How long does ARM take to pay redemption?
ARM's FAQ says processing should not exceed one working day after it receives your redemption form. The factsheet also sets a 90-day minimum holding period.
Is ARM Money Market Fund safe?
It is SEC-registered, rated low risk on its factsheet and holds short-term government and money market instruments, with a trustee and custodian. It is not a bank deposit and ARM states it cannot guarantee returns.
Sources
- ARM Money Market Fund factsheet, September 2025 · accessed Oct 2026
- ARM Investment Managers: Frequently Asked Questions · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.