The National Pension Commission(Pencom),has said that the total amount of pension funds invested in banks by Pension Fund Administrators rose to N2.05tn at the end of July from N1.48tn in January.
The agency disclosed this in its report, titled ‘Unaudited report on pension funds industry portfolio for the period ended 31 July 2021’,adding that total assets under the Contributory Pension Scheme stood at N12.78tn as of the period under review.
It also said the operators had invested a substantial part of the pension funds in the Federal Government’s bonds, treasury bills, and state government securities.
According to the agency,some of the funds were invested in agency bonds, supra-national bonds, commercial papers, foreign money market securities, and open/close-end funds.
Other investment portfolios where the operators invested the funds are real estate investment trusts, private equity funds, infrastructure funds, cash, and other assets.
827200cookie-checkPencom:Pension Funds Invested In Banks Hit N2.05tn
