Pension

PFAs Reduce Positions In T-bills, Target Long-dated Securities, Equities Market In 2020

April 1, 2021/Cowry Asset Report

Freshly released report on pension fund assets by National Pension

Commission (NPC) showed that the total value of pension assets rose year on year (y-o-y) by 17.92% to N12.30 trillion in January 2021 from N10.43 trillion printed in January 2020. According to the report, most of the pension fund assets were invested in FGN Securities. 

However, its share of the total assets moderated to 65.92% (or N8.11 trillion) in the month under review, from a 70.96% (or N7.40 trillion) recorded in 2020, as pension managers moved funds away from T-bills given the collapse of the yields, particularly in the money market, to record low single-digits amid CBN’s accommodative stance to cushion the effect of COVID-19 pandemic on the economy.

Click here to read full PDF copy of report

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