Pension assets soar to N8.14trn as FG securities gulp N5.71trn

Acting DG, Mrs. Aisha Dahiru-Umar

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Chuks Udo Okonta

The National Pension Commission (PenCom) says the total pension fund assets as at May 2018, was N8.14 trillion.

PenCom stated this in its monthly report, which detailed the summary of pension fund assets as at May 31, 2018. According to the pension regulator, Retirement Saving Account (RSA) retiree fund stood at N619.59 billion; RSA active fund, N5.51 trillion; Closed Pension Fund Administrators fund, N1.08 trillion and Approved Existing Schemes (AES) N9.26.85 billion.

PenCom posited that 70.08 per cent of the N8.14 trillion pension assets, was invested in Federal Government’s securities, which amounted to N5.71 trillion.

A breakdown of the investment according to the commission, revealed that FGN bonds got N3.96 trillion; treasury bills, N1.68 trillion; agency bond ( NMRC & FMBN) N6.54 billion; Sukuk bonds, N51.98 billion and green bonds, N8.26 billion.

PenCom maintained that state government securities gulped N154.02 billion; corporate bonds, N393.27 billion; corporate infrastructure bonds, N8.36 billion; banks, N662.80 billion; commercial papers, N71.75 billion and estate properties, N228.86 billion.

Other classes of assets include, supra-national bonds, N8.21 billion; open/close end funds, N10.16 billion; mutual funds, N1987 billion; private equity fund N3727 billion; infrastructure fund, N8.95 billion and cash & other assets N96.13 billion.

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