Pension fund assets soar to N11.36tn, as FG securities gulp N7.52tn

* RSA subscribers 9.10 million

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Chuks Udo Okonta

The National Pension Commission (PenCom) said the total pension fund assets as at August 31, 2020 was N11.35 trillion, of which N7.52 trillion (66.27 per cent) of the amount has been invested in Federal Government’s securities.

PenCom stated this in its monthly report, which detailed the summary of pension fund assets as at August 31, 2020. According to the pension regulator, Retirement Saving Account (RSA) registration stood at 9.10 million and retiree fund which has been reclassified in the multi-Fund structure stood at, Fund I, N28.42 billion; Fund II, N4.91 trillion; Fund III, N2.91 trillion; Fund IV, N915.13 billion and Fund V, N43 million.

It noted that Closed Pension Fund Administrators Fund (CPFAs), was N1.41 trillion and Existing Schemes (ES), N1.17 trillion.

A breakdown of the investment according to the commission, revealed that N544.72 billion (4.80 per cent) was invested in domestic ordinary shares; N79.16 billion (0..70 per cent) in foreign ordinary shares.

FGN bonds got N6.39 trillion (56.28 per cent); treasury bills, N1.00 trillion, (8.85 per cent); agency bond ( NMRC & FMBN) N10.90 billion, (0.10 per cent); Sukuk bonds, N104.51 billion, (0.92 per cent) and green bonds, N13.37 billion (0.12 per cent).

PenCom maintained that state government securities gulped N148.14 billion, (1.31 per cent), corporate bonds, N754.95 billion, (6.18 per cent); corporate infrastructure bonds, N16.84 billion, (0.15 per cent); corporate green bonds, N37.10 billion, (0.33 per cent); bank placement N1.64 trillion, (14.44 per cent); commercial papers, N245.15 billion, (2.16 per cent) and real estate properties, N218.27 billion, (1.92 per cent).

Other classes of assets include, supra-national bonds, N1.33 billion, 0.01 per cent); open/close end funds, N18.43 billion, 0.16 per cent); mutual funds, N29.76 billion, (0.26 per cent); private equity fund N33.07 billion, (0.29 per cent); infrastructure fund, N53.79 billion, (0.47 per cent); foreign money market securities N16.91 billion, (0.15 per cent); Reits, N11.32 billion, (0.10 per cent) and cash & other assets, N63.90 billion, (0.56 per cent).

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