Nigeria’s pension fund assets have increased to N19.787 trillion as of April 30, 2024, according to data from the National Pension Commission (PenCom).
This marks a growth of approximately 0.6% compared to the N19.669 trillion recorded as the net asset value in March 2024.
The figures were disclosed in PenCom’s monthly report for April 2024
According to the report, a detailed analysis of the pension fund portfolio shows a significant allocation to Federal Government of Nigeria (FGN) securities, which continues to dominate the investment landscape.
Investments in FGN securities amount to approximately N12.396 trillion, representing 62.65% of the total net asset value (NAV).
Additionally, pension funds have allocated N2.095 trillion to corporate debt securities and N1.952 trillion to money market instruments. These allocations reflect a diversified approach to managing pension assets, aimed at balancing risk and returns.
However, the report also highlights a notable decline in investments in ordinary shares of local companies. The value of these investments dropped by 12.49%, from N2.082 trillion in March to N1.822 trillion in April.
Under the Multi-Fund Structure, Fund II, which is the default Retirement Savings Account (RSA) Fund, maintained the largest share of the Active RSA Funds allocation with N8.303 trillion, representing 41.96% of the total fund NAV.
Fund III also saw growth, rising by 0.83% from N5.173 trillion in March 2024 to N5.216 trillion in April 2024, maintaining its position as the second-largest allocation.
Fund IV posted N1.447 trillion in April 2024, representing a growth of 1.18% recorded the previous month of March 2024.
