Pension fund assets soar to N12.29tn

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Chuks Udo Okonta

The pension sector fund assets has soared to N12.29 trillion by November 30, 2020, the National Pension Commission (PenCom) has said.

This represented a 1.94 per cent increase when compared with N12.053 trillion recorded as at October 31, 2020, it said, noting that the funds rose by 5.89 per cent between September and November based on the N11.56 trillion recorded as at September 30, 2020.

However, as contributions and trade continued on a growth trajectory, the pension managers, Pension Fund Administrators (PFAs) invested more funds than before in Federal Government Securities.

The PFAs invested a total of N8.139 trillion in FGN Securities during the period under review, representing 66.22 per cent of the total N12.29 trillion fund assets.

A breakdown of the fund shows that out of the N8.139 trillion invested in FGN Securities, FGN Bonds got N7.379 trillion; Treasury Bills N642.02 billion; Agency Bonds N6.02 billion; Sukuk N100.07 billion; Green Bonds N11.814 billion while Green Bonds got N11.814 billion.

Meanwhile, Domestic Ordinary Shares N790.85 billion; Foreign Ordinary Shares N17.33 billion; State Government Securities N150.58 billion; Corporate Debt Securities N731.57 billion; Local Money Market Securities N1.79 trillion; Mutual Funds N145.22 billion; Real Estate N158.60 billion; Private Equity Funds N31.70 billion; Infrastructure Funds N57.07 billion; and Cash and Other Assets N190.08 billion.

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