DLM Asset Management Leading the Future of Wealth Creation in Nigeria, Turning Savings into Growth: MD DLM Asset Management- Ugonnaya Osi
Nigeria’s Progress and the Future of Wealth Creation
SINCE Independence, Nigeria has made remarkable progress across science, technology, arts, sports, and education. The country has launched satellites (NigeriaSat-1 in 2003, NigComSat-1R in 2011), liberalized its telecom sector to become one of Africa’s largest mobile markets, and produced fintech leaders such as Flutter wave, Paystack, and Interswitch. Nollywood has grown into the world’s second-largest film industry, Afrobeats is now a global sound, and Nigerian athletes have earned global acclaim. Education has expanded from a few universities in 1960 to over 170 today, with financial literacy becoming an important part of this growth. In the same vein, the Nigerian financial services industry has evolved over time and undergone substantial changes in terms of number and varieties of financial intermediaries, the depth and breadth of instruments, as well as structure of its capital and ownership over the last six and a half decades. The Asset Management sector being an integral part of the financial services industry has equally experienced major transformation since its inception in 1991.
Asset Management has immensely contributed to the development of the financial markets and has helped to improve the savings culture of many Nigerians. In addition to helping to galvanize savings locally, the Asset Management sector has also put Nigeria on the regional and global map. Nigeria is now the third largest investment management zone in sub-Saharan Africa, after South Africa and Morocco. We estimate that Nigeria had 10.1 trillion ($6.7 billion) in assets under management (AuM) as at the end of 2024.
Evolution of the Nigerian Asset Management Industry
The Asset and Wealth Management Industry in Nigeria is going through significant and rapid transformation, driven by economic, technological and regulatory factors. As Nigerian investors seek more diverse and sustainable opportunities, asset managers are responding by adopting new strategies, digital tools, and investment products. Additionally, Nigeria’s financial markets are opening up to international standards and the asset management industry is Nigeria is aligning with global key trends which are shaping the future of Nigeria’s asset management industry and creating pathways for growth and innovation.
From a very humble start in 1991, the industry has grown and currently comprises over 200 asset managers offering collective investment schemes (CISs), segregated mandates, and alternative vehicles such as private equity and infrastructure funds.
The Role of Asset Management
For years, Nigerians relied on informal savings groups or bank deposits with minimal returns. Asset management changed this by channelling pooled funds into productive investments—equities, bonds, real estate, and infrastructure—creating wealth for investors while fuelling business growth and job creation. With innovations like mutual funds, ETFs, REITs, and micro-investment platforms, even small savers can now participate in wealth creation.
Despite progress, opportunities remain. As of December 2024, bank deposits stood at 140.97 trillion, while mutual funds accounted for only 3.98 trillion—just 2.82%. By May 2025, mutual funds had grown to 5.76 trillion (up 44.72%), but the potential for further growth is still vast and being fuelled by greater retail participation, increasing demand for dollar-denominated portfolios, and enhanced access via digital investment platforms, amongst many other factors.
DLM Asset Management: Driving Financial Inclusion
DLM Asset Management is at the forefront of this transformation. Through products like the DLM Money Market Fund (short-term, low-risk, starting at 10,000) and the DLM Fixed Income Fund (for steady long-term income), we provide tailored solutions for everyday Nigerians, institutions, and high-net-worth clients. Beyond mutual funds, we offer bespoke portfolio management, investment advisory, and innovative digital access through DLM Thrive, our online platform.
As the market evolves, DLM Asset Management is responding by diversifying its offerings and developing new products, embracing digital tools to drive financial inclusion, and aligning with global trends. Over the last few years, DLM Asset Management has paid attention to evolving market conditions, regulatory reforms and a shift in investors’ preferences and we are leveraging technological advancements, ethical investing trends and new asset classes to enhance our service offerings and meet the changing demand of the Nigerian investors.
Leveraging our recently launched state-of-the-art technology driven investment portal called DLM Thrive, we have been able to improve our service offering, enhance our customer experiences, expand our market reach, increase operational efficiency, and helped us to tap into the growing digital investor base, by catering to a more tech-savvy, younger generation of investors who prefer quick, online access to financial services.
We have also been deliberate and intentional about diversification into alternative investments while at the same time focusing on sustainable and impact investing. This has not only helped us grow our AUM but also positions DLM Asset Management to lead in the growing market for responsible and impact-focused investments. These investments provide greater diversification for our clients and has helped DLM Asset Management to be able to meet the evolving needs of its diversified investors’ base and at the same time strengthening our competitive positioning in the market.
Building Nigeria’s Wealth Future
At DLM, our mission goes beyond delivering returns—we empower Nigerians with financial education, ethical practices, and transparent investment opportunities. By transforming idle savings into purposeful investments, we are helping individuals build wealth while contributing to national economic growth. With DLM, investing is not only accessible, but also impactful and transformative.
DLM Asset Management Leading the Future of Wealth Creation in Nigeria, Turning Savings into Growth.
Oluwayemisi Ogunmola: Driving Transformative Growth and Sustainable Wealth Creation at EDC Fund Management
With close to two decades of experience in Nigeria’s financial services sector, focusing keenly on fund distribution, portfolio management, and client acquisition, Oluwayemisi Ogunmola stands as a distinguished investment professional. Currently serving as the Managing Director of EDC Fund Management Limited, the asset management arm of the Ecobank Group, her leadership is defined by a commitment to strategy, inclusion, and innovation. Ogunmola’s philosophy ensures that investment is accessible, empowering, and value-driven for clients.
Ogunmola’s foundational expertise stems from a robust academic background, holding a B.Sc. in Computer Science and an MBA in Marketing, both earned at the University of Lagos. This expertise has been instrumental in developing her deep focus on asset management, successfully managing portfolios, and guiding clients toward sustainable wealth creation.
A Track Record of Exceptional Performance
Ogunmola’s career trajectory is marked by significant quantitative achievements, demonstrating her consistent ability to deliver exceptional results. Starting her career in 2005, she quickly advanced.
Key milestones include:
• Growing FBN Securities’ Assets Under Management (AUM) from ₦4 billion to over ₦20 billion during her tenure as Treasurer.
• Managing fixed income portfolios valued at over ₦110 billion at FBN Capital Limited, a responsibility that cemented the importance of market insights and sound decision-making.
• Leading EDC Fund Management’s distribution team to a historic milestone, scaling the company’s AUM from $1.2 million to over $100 million in less than four years. This period was noted as a defining time that tested the team’s resilience, innovation, and customer commitment.
Since assuming the role of Managing Director in 2021, Ogunmola has focused on repositioning the brand to better serve both retail and institutional clients. Her leadership has successfully moved EDC Fund Management into the top 10 Asset Managers in Nigeria.
Empowering Investors Through Innovation
EDC Fund Management Limited provides a comprehensive range of investment solutions designed for individuals, institutions, and corporates across Nigeria and West Africa. Under Ogunmola’s guidance, the company prioritizes making investing seamless, secure, and inclusive, ensuring clients achieve financial growth with transparency and ease.
Ogunmola acknowledges that the financial landscape presents challenges, including market volatility, investor education needs, and varying client demographics regarding digital adoption. To surmount these hurdles, EDC Fund Management has focused on simplifying product offerings, doubling down on client engagement, and investing in digital tools to enhance accessibility.
Ogunmola’s ultimate vision is clear: to transform EDC Fund Management into the leading retail-focused asset manager in West Africa. This goal involves sustainably increasing AUM, deepening digital integration, and offering tailored investment products that resonate with a diverse customer base. The overarching aim is to become the go-to partner for anyone seeking to grow their wealth responsibly.
Leadership Rooted in Excellence
Navigating leadership within a historically male-dominated industry required overcoming skepticism. Ogunmola chose to focus on consistently delivering excellence, allowing results to build credibility and earn respect. Furthermore, she is deeply committed to supporting the next generation of professionals, making it a point to mentor other women and actively create space for inclusion and diverse perspectives within the industry.
Ogunmola encourages aspiring female professionals to stay grounded in their values, prioritize excellence, and not wait for permission to lead. She also stresses the importance of starting one’s investment journey early to enjoy long-term benefits.
To partner with a proven leader in wealth creation and secure your financial future, explore the tailored investment solutions offered by EDC Fund Management Limited.
FSDH Asset Management Ltd- Steering Nigerians to success for over two decades: Toyin Owolabi, MD FSDH Asset Management
Powering Wealth Through Strategic Innovation
A key driver of FSDH Asset Management’s (FAML) growth has been its deliberate product diversification strategy. The firm offers a wide range of investment products—spanning mutual funds, discretionary portfolio management, and alternative investments—designed to meet the evolving needs of diverse investor groups.
FAML has also embraced digital transformation, leveraging technology for onboarding, client engagement, internal processes, and reporting. These innovations continue to enhance accessibility and convenience, making investment seamless for both retail and institutional clients.
As a proud subsidiary of the FSDH Group—which comprises FSDH Merchant Bank, FSDH Capital, FSDH Asset Management, and PAL Pensions—the company enjoys a unique advantage, leveraging the synergy across the group. Membership in this financial powerhouse provides: A one-stop shop for integrated financial solutions.
Joint regulation from CBN, SEC, PENCOM, and NSE, ensuring stability and credibility. Access to a broader client base through cross-selling opportunities.
Shared resources, including advanced research and market intelligence.
Capital and liquidity support, strengthening resilience and growth capacity. These advantages reinforce FAML’s position as a trusted asset manager in Nigeria’s financial services landscape.
Empowering Clients Through Wealth Creation
At the heart of FAML’s mission is the commitment to help clients achieve their financial goals through structured wealth-creation solutions. By adopting an enterprise-wide risk management framework, the firm delivers competitive, risk-adjusted returns across multiple asset classes.
Beyond returns, FAML emphasizes financial literacy and empowerment. Through investor education programs, seminars, and webinars, clients are equipped to make informed decisions, resulting in sustainable wealth preservation and growth. For institutional investors and SMEs, tailored portfolio management strategies have further supported business expansion and long-term sustainability.
Contributing to National Development
Asset managers like FAML play a critical role in Nigeria’s economic advancement. By mobilizing domestic savings into productive investments, the firm provides capital for infrastructure projects, supports business expansion, and fosters job creation.
FAML also helps deepen the Nigerian capital market by offering diverse investment vehicles that enhance liquidity and broaden participation. Importantly, the firm advances financial inclusion, giving retail investors access to products previously exclusive to institutions and high-net-worth individuals. In this way, the asset management industry serves as a vital pillar of national development.
Unlocking Opportunities with the FSDH Halal Fund
Among its product suite, the FSDH Halal Fund is a standout Shariah-compliant investment option for clients seeking ethical and faith-based alternatives. Guided by Islamic principles, the fund avoids interest-based or prohibited sectors such as gambling and alcohol, while investing in compliant instruments such as Sukuk, Mudarabah, and Shariah-aligned equities.
The fund offers investors:
Ethical and socially responsible investing.
Portfolio diversification.
Financial inclusion for faith-based investors.
Competitive returns, while preserving wealth in line with Islamic values.
Navigating Industry Challenges
The Nigerian asset management industry has grown remarkably, with non-pension AUM expanding from ₦3.5 trillion in 2022 to about ₦10 trillion by the end of 2024.
However, challenges remain:
Low financial literacy and weak investment culture.
Macroeconomic volatility, including inflation and exchange rate instability.
Limited penetration of investment products outside major urban areas.
Regulatory bottlenecks and infrastructural gaps hindering digital adoption.
To unlock the sector’s full potential, government intervention is crucial. Key measures include:
Strengthening investor protection laws.
Expanding nationwide financial literacy campaigns.
Providing tax incentives for participation in collective schemes.
Supporting digital infrastructure to enhance financial inclusion.
Maintaining stable macroeconomic policies to reduce investment risks.
Looking Ahead: The Next Five Years
FSDH Asset Management is committed to sustaining its leadership role and driving innovation in the Nigerian market. Over the next five years, the firm plans to:
Expand regionally, exploring opportunities across Africa.
Introduce new products, including private equity, infrastructure funds, and sustainability-focused investments.
Deepen digital transformation, embedding fintech solutions to serve a younger, tech-savvy demographic.
Grow its retail base, with a special focus on millennials through mobile-first, user-friendly platforms.
Lead in sustainability investing, positioning itself as a pioneer in green and ethical investment products.
Collaborate with the public sector, partnering on initiatives that drive economic growth and inclusive development.
With a strong heritage, innovative approach, and unwavering commitment to clients, FSDH Asset Management Limited continues to shape Nigeria’s investment landscape. By empowering individuals and institutions, deepening capital markets, and supporting national development, the firm is well-positioned to deliver long-term value—both for its clients and for the Nigerian economy at large.
