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Pension Fund Assets Grow 10.28% to N9.33trn in Six Months

The National Pension Commission (PenCom) has revealed that the total pension fund assets as at June 30, 2019 stood at N9.33 trillion.

Business Post gathered from a report released by the agency that from the figure moved from N8.46 trillion in January 2019 to N9.33 trillion in June 2019, indicating an increase of 10.28 percent in the period under review.

From the data, the pension fund assets recorded an inflow of N21 billion from pension contributors in the second quarter of this year, with government securities making the highest contribution of 69.55 percent, largely dominated by 47.60 percent of FGN bonds and 20.77 percent of treasury bills.

Another big contributor to the pension fund assets were local money market securities with 11.21 percent and the domestic equities contributed 5.76 percent, while foreign shares made a meagre 0.70 percent.

Business Post observed from the data that in the second quarter of 2019, investment in FGN securities dropped to N6.49 trillion in June from N6.55 trillion in April, while investment in corporate debt securities increased in the same period to N505.82 billion from N474.32 billion, with investment in local money market securities rising from N947.34 billion in April to N1.10 trillion in June.

However, investment in mutual funds decreased to N23.67 billion in June 2019 from N24.52 billion recorded in April 2019.

Source: businesspost

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