Pension Fund Assets rise to N8.14tr

The National Pension Commission (PenCom) reveals that the Pension Fund Assets rose to N8.14 trillion at the end of May from N7.52 trillion in December 2017

National Daily gathered that PenCom narrated that, “The pension assets as at December 2017 stood at N7.52 trillion, it moved up to N7.8 trillion as at February and soared to N7.94 trillion in March, then, to N8.14 trillion in May.”

The Commission noted that N5.2 trillion had been invested in Federal Government Securities by the Pension Fund Administrators (PFAs), noting that the investment represented 70.08 per cent of the N8.14 trillion pension assets.

PenCom highlighted: “A breakdown of the investment is FGN bonds got N3.96 trillion; treasury bills, N1.68 trillion, agency bond like the Nigeria Mortgage Refinancing Company (NMRC) and the Federal Mortgage Bank of Nigeria (FMBN) got N6.54 billion, Sukuk bonds got N51.98 billion and green bond got N8.26 billion.

“The state government securities gulped N154.02 billion; corporate bonds, N393.27 billion; corporate infrastructure bonds, N8.36 billion; banks, N662.80 billion; commercial papers, N71.75 billion and estate properties, N228.86 billion.

“Other classes of assets include, supra-national bonds, N8.21 billion; open/close end funds, N10.16 billion; mutual funds, N1987 billion; private equity fund N3727 billion; infrastructure fund, N8.95 billion and cash & other assets N96.13 billion.”