BY NKECHI NAECHE ESEZOBOR—The National Pension Commission Pension (PenCom) has said that pension fund assets stood at N9.58 trillion by the end of September 2019, BusinessToday has learnt.
The pension regulator disclosed this in it summary of pension fund assets as at September 30, 2019, published on its website and made available to BusinessToday that N6.84 trillion of the pension fund assets have been invested in Federal Government securities as at the end of the month under review.
The commission said that investments in FGN securities include: N4.48 trillion amounting to 46.71 per cent in Bonds; N2.26 trillion in Treasury Bills (23.62 per cent); N10.69 billion in Agency Bonds (NMRC & FMBN), (0.11 per cent); N80.53 billion in Sukuk (0.84 per cent) and N13.38 billion in Green bonds, (0.14 per cent).
It added that in line the the Multi-fund structure, Retirement Saving Account (RSA) Fund 1, N19.31 billion was invested; RSA Fund 11, N4.23 trillion; RSA Fund 111, N2.38 trillion and RSA Fund IV, N768.38 billion.
It explained further that N492.08 billion, which was 5.13 per cent of the funds, was invested in domestic ordinary shares; while N65.14 billion, amounting to 0.68 per cent in foreign ordinary shares.
Pension operators invested N125.24 billion (1.31 per cent) in State Government’s Securities; Corporate bonds got N572.42 billion (5.97 per cent); Corporate Infrastructure bonds, received N17.79 billion, (0.19 per cent); Corporate Green Bonds, N31.74 billion, (0.33 per cent); Supra-National Bonds got N4.03 billion (0.04 per cent); commercial papers, N123.28 billion (1.29 per cent); Banks, N951.28 (9.93 per cent).
While open/close-end funds, N9.90 billion, (0.10 per cent); Reits, N11.91 billion, (0.12 per cent) Foreign Money Market Securities, N8.42 billion, (0.09 per cent); private equity fund, N32.05 billion, (0.33 per cent), Real Estate Properties, N231.48 billion, (2.42 per cent); infrastructure funds, N34.89 billion, (0.36 per cent) and cash & other assets, N26.47 billion, (0.28 per cent).
The commission attributed the accumulation of over N9 trillion and other successes achieved since inception of implementation of the CPS to esteemed contributors.