Pension Fund Administrators have increased the value of investments in FGN Securities from N9.19 trillion as of September 30, last year to N9.64 trillion as at last December.
This represents an N451.82 billion increase or 4.92 percent increase. According to the National Pension Commission (PenCom), the increase in the value of investments in FGN Securities was majorly due to additional investments in this asset class during the quarter.
PenCom made this known in its Fourth Quarter 2022 Report. The report showed that the total value of pension fund assets as at December 31, 2022 was N14.99 trillion, which comprised of N10.72 trillion RSA ‘Active’ Funds I, II III and V; N1.19 trillion RSA Retiree Fund IV; N1.57 trillion Closed Pension Fund Administrators (CPFAs); and N1.48 trillion Approved Existing Schemes.
Fund VI Active and Retiree Fund amounted to N36.20 billion. A breakdown of the fund further showed that pension fund assets were mainly invested in Federal Government Securities (FGN), which accounted for 64.33 percent of total assets.
The report read: “The composition of investments in FGN Securities includes FGN Bonds at 95.60 percent; Treasury Bills at 2.06 percent; and Agency Bonds, Sukuk and Green Bonds accounting for 2.34 percent.