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The short answer
On Cowrywise you choose a mutual fund in the app's investment section, read its details, and buy units with money from your Stash or a card or bank payment. Fund returns follow the fund's daily price rather than a fixed rate. To cash out, you liquidate units into Stash and then transfer to your bank, which Cowrywise says takes up to 24 hours.
What you are buying
A mutual fund pools money from many investors and puts it into a mix of assets chosen by a professional manager under a written investment policy. You own units. Each unit has a price, called the net asset value or NAV, which is recalculated as the fund's holdings change in value. If the NAV rises, your units are worth more; if it falls, they are worth less.
Cowrywise offers funds on its platform alongside its savings plans. They work differently from a Regular Savings plan. A savings plan has a rate fixed when you open it; a fund has no fixed rate. Cowrywise's homepage says its return estimates are based on conservative mutual funds on Cowrywise since 2019 and exclude processing fees, which is a description of history rather than a promise.
Types you are likely to see
- Money market funds: Treasury bills and short-term deposits; low price movement.
- Fixed income or bond funds: government and corporate bonds; prices move with interest rates.
- Equity funds: shares; highest movement up and down.
- Dollar funds: dollar-denominated assets, covered in Cowrywise dollar plans.
More detail in types of mutual funds in Nigeria.
Matching a fund to the goal
The right fund depends on when you need the money, not on last year's best performer:
| When you need it | Fund type that usually fits | Why |
|---|---|---|
| Within a year | Money market | Low price movement; quick redemption |
| One to three years | Fixed income | Higher expected return, but prices move with interest rates |
| Five years or more | Equity, or a mix | Most growth potential and the deepest falls along the way |
If a fund fell 15% the month before your rent was due, could you wait for it to recover? If not, that money belongs in a money market fund or a savings plan. Spreading purchases over several months also reduces the risk of buying everything at a high price.
Steps to buy
- Log in to the Cowrywise app or my.cowrywise.com and open the investment or mutual funds section.
- Browse the funds. Open one and read who manages it, what it invests in, its risk level and any fee information shown.
- Choose an amount. The app shows any minimum for that fund.
- Pay from your Stash or by the funding options the app offers, and confirm.
- Your units appear in your portfolio once the payment is processed. Note the date and NAV of your purchase.
Fees: where to find them
Mutual funds carry costs inside the fund, chiefly the manager's fee and other running costs, which are taken before the NAV is published. Some funds also charge for leaving early. These belong to the fund, not to Cowrywise, and are set out in each fund's factsheet or prospectus. On top of that, Cowrywise may show a processing fee on purchases, and its December 2023 withdrawal article lists ₦25 or ₦50 for transfers from Stash to a bank. Read mutual fund fees in Nigeria for what each type of fee does.
How to redeem
Cowrywise's withdrawal article describes the route: liquidate units from the fund into your Stash, then transfer from Stash to your bank. The transfer step takes up to 24 hours from initiation. The liquidation step depends on the fund: a money market fund usually settles faster than an equity fund, and a fund with a minimum holding period may charge if you exit early. See how long mutual fund redemption takes.
Worked example
Example only. Femi buys ₦200,000 of a money market fund when its NAV is ₦100 a unit, so he holds 2,000 units. Three months later the NAV is ₦103. His units are worth 2,000 × ₦103 = ₦206,000, a gain of ₦6,000 before any exit charge. He liquidates to Stash and transfers ₦206,000 to his bank, paying the ₦50 transfer fee for amounts above ₦50,000. Some money market funds keep a ₦1 unit price and pay income as extra units or dividends instead; the result is similar, but the units count changes rather than the price.
What to check first
- The fund manager, trustee and the fund's SEC registration.
- What the fund holds and how much its price can move.
- Fees in the factsheet, plus any processing fee shown in the app.
- Any minimum holding period or early-exit charge.
- How long liquidation takes for that fund.
For Cowrywise's own regulatory position, read is Cowrywise licensed?
Where Pryme fits
Pryme does not sell mutual funds. Its Investment Box is a naira savings product whose money funds Solid Allianze MFB's lending, with returns that depend on that lending, held to maturity and with the rate shown in the app.
Questions people ask
How do I invest in mutual funds on Cowrywise?
Open the investment section in the app, pick a fund, read its details, choose an amount and pay from Stash or another funding option shown.
What is the minimum for Cowrywise mutual fund?
It depends on the fund. The app shows the minimum before you confirm.
How long does it take to withdraw from Cowrywise mutual fund?
You liquidate to Stash first, then transfer to your bank, which Cowrywise says takes up to 24 hours. Liquidation time varies by fund.
Can I lose money in Cowrywise mutual funds?
Yes. Fund prices can fall, especially for bond and equity funds. Money market funds move least but are not guaranteed.
Sources
- Cowrywise homepage · accessed Oct 2026
- Cowrywise Help: Withdrawals on Cowrywise, what you need to know (12 Dec 2023) · accessed Oct 2026
- Cowrywise blog: Cowrywise SEC licence · 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.