Pencom: Contributory Assets Now N12.4tr

The National Pension Commission,has said that  total assets under the Contributory Pension Scheme rose to N12.4tn as of the end of April.

In its unaudited report on the pension funds industry portfolio for the period ended April 30, 2021, the  commission  provided data on the approved existing schemes, Closed Pension Fund Administrators and Retirement Savings Funds (including unremitted contributions at the Central Bank of Nigeria and legacy funds).

The CPS,  returned to a growth path as it gained N92bn in March having lost some funds in the previous month

The d funds rose to N12.34tn as of the end of March from N12.25tn in February.

The assets, which had been the fastest-growing funds in the economy, lost N7bn in January and another N52bn in February.

According to PenCom, N8.4tn of the funds was invested in Federal Government’s securities in March.

Other investment portfolios where the funds were invested included domestic and foreign ordinary shares; corporate debt securities comprising of corporate bonds, corporate infrastructure bonds, corporate green bonds and supranational bonds.

The funds were also invested in local money market securities, comprising bank placements, commercial papers and foreign money market securities.