Pension fund assets have risen to N8.34 trillion as at September 30, 2018, a report by the National Pension Commission (PenCom) has shown.
The report titled: Pension Fund Summary September 2018, stated that the Federal Government has however continued to take advantage of the fund as Pension Fund Administrators (PFAs) invested N5.9 trillion in Federal Government securities, representing 70.7 per cent of the total fund.
However, PFAs invested the remaining 29.3 per cent of the total fund in asset classes such as Domestic Ordinary Shares, Foreign Ordinary Shares, State Government Securities, Corporate Bonds, Supra-National Bonds, Local Money Market, Foreign Money Market, Mutual Funds, Real Estate, Private Equities, Infrastructure Fund, and Cash and other Assets.
With the the largest chunk of the fund invested in FGN Securities, the PFAs invested N845 billion in Local Money Market representing 10.17 per cent; N602 billion in Domestic Ordinary Shares, representing 7.21 per cent; N427,7 billion in Corporate Debt Securities, representing 5.13 per cent; and N225 billion in Real Estate Properties, representing 2.7 per cent.
Meanwhile, the PFAs’ investment in State Government Securities stood at N152 billion, representing 1.83 per cent; Foreign Ordinary Shares N64 billion, representing 0.77 per cent; cash and Other Assets N43 billion representing, 0.52 per cent; Private Equites Fund N40 billion representing 0.48 per cent; Mutual Funds N17.8 billion and Infrastructure Fund N17 billion, both representing 0.21 per cent; while Supra National Bonds got the least of N6 billion representing 0.07 per cent.