Total Pension Fund Assets in Nigeria Hits N10.5trn—PenCom: The National Pension Commission (PenCom) has disclosed that the total pension fund assets in Nigeria stands at N10.5 trillion as at February 2020.
PenCom stated this in its monthly report, which detailed the summary of pension fund assets as at February 29, 2020.
According to the pension sector regulator, Retirement Saving Account (RSA) retiree fund, which has been reclassified in the multi-fund structure, stood at: Fund I, N24.2 billion; Fund II, N4.6 trillion; Fund III, N2.7 trillion; Fund IV, N829 billion and newly introduced Fund V, N7.8 million.
It noted that Closed Pension Fund Administrators Fund (CPFAs) amounted to N1.3 trillion and Existing Schemes (ES), N1.1 trillion.
A breakdown of the investment, according to the commission, revealed that N532.5 billion (5.1 percent) was invested in domestic ordinary shares; N65.04 billion (0.5 percent) in foreign ordinary shares.
FGN bonds got N5.6 trillion (53.4 percent); treasury bills, N1.4 trillion, (13.0 percent); agency bond (NMRC & FMBN) N11.8 billion, (0.11 percent); Sukuk bonds, N84.4 billion, (0.8 percent) and green bonds, N13.8 billion (0.13 per cent).
PenCom maintained that state government securities gulped N141.1 billion, (1.34 percent), corporate bonds, N615.4 billion, (5.9 percent); corporate infrastructure bonds, N20.23 billion, (0.19 per cent); corporate green bonds, N26.7 billion, (0.25 percent); bank placement N1.5 trillion, (14.1 percent); commercial papers, N125.9 billion, (1.2 percent) and real estate properties, N219.7 billion, (2.1 percent).
Other classes of assets include, supra-national bonds, N2.7 billion, 0.25 per cent); open/close end funds, N19.3 billion, 0.18 percent); mutual funds, N29.9 billion, (0.18 percent); private equity fund N38.4 billion, (0.37 percent); infrastructure fund, N47.3 billion, (0.45 percent); foreign money market securities N7.8 billion, (0.07 percent); Reits, N10.7 billion, (0.10 percent) and cash & other assets, N64.9 billion, (0.62 percent).