Pension Funds Investments In FGN Securities Soar By 5.73% To N10.196tn
Part of the Pension Fund Assets invested in Federal Government Securities has recorded a significant growth to the tune of N10.196tn at first quarter of 2023.
This represents a growth rate of 5.73 per cent N9.644tn recorded in Dec 2022.
This is contained in the latest pension funds industry portfolio report from the National Pension Commission, detailing activities in the sector for the first quarter of the year ending March 31, 2023.
According to the report, the 5.73 per cent appreciation represented N552.790bn, thus bringing the total pension fund assets invested in Federal Government Securities to 65.44 per cent of the entire fund. The report said that the increase in the value of investments in FGN Securities was majorly due to additional investments in this asset class during the quarter. The investments in FGN Securities include FGN Bonds, Treasury Bills, Agency Bonds, Sukuk and Green Bonds, all at varying percentages, with the former taking the highest percentage. Commercial Papers stood at N 116.560bn, representing 0.75 per cent as of March 31, 2023, while Bank placements were N 1.614tn, 10.36 per cent of the total pension fund assets. The total value of Pension Fund assets at the end of the first quarter stood at N15.58tn.