The National Pension Commission (PenCom) has revealed that Nigeria’s pension fund assets dropped marginally to N19.669 trillion for the period ended 31st March 2024.
This was contained in the commission’s monthly report for March 2024.
The figure represents a marginal decrease of about 0.45 per cent compared with N19.759 trillion reported as net asset value(NAV) in February 2024.
Details of the report showed that the total pension fund net asset value dropped to N19.669 trillion in March compared to N19.759 trillion reported a month earlier.
Meanwhile, investment in FGN securities dominated portfolio allocation with about N12.200 trillion or 62.03 per cent of total net asset value (NAV), while N2.058 trillion was allocated to corporate debt securities and N1.779 trillion to money market Instruments.
The data further showed that investments in ordinary shares of local companies rose by 8.72 per cent to N2.082 trillion from N1.915 trillion in February and Fund II, which is the default RSA Fund under the Multi-Fund Structure, maintained the largest share of the Active RSA Funds allocation with N8.331 trillion or 42.35% of the total fund NAV.
Fund III also rose by 1.19 per cent from N5.112 trillion to N5.173 trillion maintaining its second position for fund allocation.
The report also indicated that RSA membership for March 2024 rose by 0.22 per cent to 10,280,956 from 10, 258,611 members in February 2024.