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In the wake of the COVID-19 health pandemic that resulted in industry-wide contractions on achieved returns in 2021, Nigeria’s foremost Pension Fund Administrator, Leadway Pensure PFA, projects to maintain an average of double digits increase on its Fund’s returns in 2022.
Due to the COVID 19 pandemic and its impact on the economic and business environment, there was a significant industry-wide dip in the funds returns performance. As released in its report in May 2022, the topmost pension service provider is on target to maintain double-digit returns on its entire Retirement Savings Account investment portfolios of 12% in Fund 1, 11% in Fund 2, 10 per cent in Fund 3, and 11% in Fund 4 by the end of the year 2022 sustaining this dynamic performance trend.
In previous years, Leadway PFA recorded a two-year streak of consistent appreciable performance achieving double-digit fund returns on its RSA Funds. As of 2019, Fund 1 achieved a 14% return and grew the same to 19% in 2020. Fund 2 also improved from a single digit of 9 per cent at inception in 2018 to impressively recording a double-digit of 18% by 2020. Similarly, Fund 3 and Fund 4 reached double digits in 2019 and 2020 with returns of 13% & 14 per cent in 2019 to 14% & 15% in 2020 respectively.
Speaking on the report and projections for the year, Managing Director/Chief Executive Officer, Leadway Pensure, Mr. Lanre Idris, enthused with excitement that the achieved returns projection is indicative of the organisation’s progressive capacity in fulfilling its financial obligations despite the pandemic-induced global downturn in the investment space in previous years.
“As recorded in the May Report of the Retirement Savings Account (RSA), we are right on a positive momentum to sustain the constant improvements in returns across all our pension funds by year-end 2022, despite notable setbacks in the previous year. However, global recoveries in the economic environment leading to improved investment possibilities have paved the way for positive progress in returns.
“As an organisation hinged on consistently achieving superior value creation for our stakeholders, we are optimistic about maintaining our market leadership position in all our investment portfolios.”
“This kind of investment performance is what we have promised our RSA customers and prospects who understand that their savings for a financially secured retirement life is a function of the returns on their funds. We remain devoted to this ethos and would continue the path on value creation in delivering bespoke financial support to our growing and diverse customers,” he added.
Leadway Pensure PFA, an associate company of Leadway Group is a leading pension administration and fund management company for value-driven aspirational individuals, corporate organizations and federal and state institutions. Leadway Pensure PFA is built on exceptional expertise and transparency, enabling the organisation to deliver simple, coherent, efficient, and outstanding financial services to clients and stakeholders.