The National Pension Commission (PenCom) has disclosed that Nigeria’s pension fund assets rose to N19.531 trillion.
The stated amount is for the period ended 31st January, 2024.
The commission, in it’s monthly report for January 2024, said the amount represents an increase of about 6.40 per cent when compared to the N18.356 trillion that was reported as net asset value in December 2023.
Further details of the report show that investment in FGN securities continues to dominate portfolio allocation with about N12.13 trillion or 62.15% of total net asset value (NAV).
It further showed that Pension Funds also allocated N2.169 trillion to Corporate Debt Securities and N1.711 trillion to Money Market Instruments while investments in ordinary shares of local companies rose by 22.92 per cent to N1.931 trillion from N1.571 trillion in December.
Fund II, which is the default Retirement Savings Account (RSA) Fund under the Multi-Fund Structure, maintained the largest share of the Active RSA Funds allocation with N8.155 trillion or 42 per cent of the total fund NAV, just as Fund III also rose by 2.27 per cent from N4.942 trillion to N5.054 trillion maintaining its second position for fund allocation.
The report also showed that RSA membership for January 2024 rose by 0.32 per cent to 10,223,672 from 10, 191,400 members in December 2023.
