PenCom Invests N6.84 Trillion In FGN Securities As Pension Assets Hit N9.58 Trillion

The National Pension Commission (PenCom) has said the Federal Government’s securities have swallowed over N6.84 trillion as the total pension fund assets rose to N9.58 trillion as at September 30, 2019.

Data on pension fund assets published on the regulators website showed investments in FGN securities to include N4.48 trillion amounting to 46.71%  in Bonds; N2.26 trillion in Treasury Bills (23.62%); N10.69 billion in Agency Bonds (NMRC & FMBN), (0.11%); N80.53 billion in Sukuk (0.84%) and N13.38 billion in Green bonds, (0.14%).

A further breakdown of the summary showed that in Retirement Saving Account (RSA) Fund 1, N19.31 billion was invested; RSA Fund 11, N4.23 trillion; RSA Fund 111, N2.38 trillion and RSA Fund IV, N768.38 billion., all of which were invested in the multi-fund structure.

Other investments include Open/Close-end funds, N9.90 billion, (0.10 per cent); Reits, N11.91 billion, (0.12 %) Foreign Money Market Securities, N8.42 billion, (0.09%); private equity fund, N32.05 billion, (0.33%), Real Estate Properties, N231.48 billion, (2.42%); infrastructure funds, N34.89 billion, (0.36%) and cash & other assets, N26.47 billion, (0.28%).

It stated that N492.08 billion, which was 5.13% of the funds, was invested in domestic ordinary shares; while N65.14 billion, amounting to 0.68%  in foreign ordinary shares.

Similarly, 5.13% (N492.08 billion,) of the fund was invested in domestic ordinary shares, while 0.68 % (N65.14 billion) in foreign ordinary shares.

The Acting Director-General of PenCom, Aisha Dahir-Umar, had previously attributed the accumulation successes achieved from the pension assets since the inception of implementation of the Contributory Pension Commission (CPS) to the commission’s esteemed contributors.

She further noted that the rise in pension assets has increased public confidence in CPS. This she said is gradually changing Nigeria’s financial and socio-economic narrative