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On the back of a low yield environment, Pension Fund Administrators (PFAs) in the country shifted investments to stocks listed on the Nigerian Exchange Limited (NGX), among other Exchanges in 2021, as their exposure increase by 51.4 per cent in 11 months. Analysts have expressed that the moves by the PFAs was in a bid to escape the unattractive yield environment that prevailed in the Treasury Bills (T-Bills) market in 2021. THISDAY investigation revealed that PFAs investment in stocks between January and November of 2021 was N9.48trillion, an increase of 51.4 per cent from N6.26trillion reported by the National Pension Commission (PenCom) between January and November of 2020. The aggressive investments by the PFAs in the stock market impacted significantly on listed blue-chips companies and local investors outshining foreign investors on the bourse. For instance, the stock market in 11 months of 2021 had gained N1.5trillion to N22.567 trillion from N21.063trillion it opened in 2021, while the NGX All-Share Index or ASI appreciated by 7.4 per cent to 43,248.05basis points to close at 40,270.72 basis points it closed in 2020. The stock market had closed at N22.30trillion in 2021 after appreciating by N1.24trillion