The net asset value of the pension industry at the end of Q2 2024 (June 30) published by the National Pension Commission stands at N20.48tr, compared to NAV of N19.67tr as at 31 March 2024.
This represents an increase of 4.14%(814.92bnbn). However, the growth in Q2:2024 was lower compared to the growth of N1.31tr (7.16%) recorded in Q1:2024. PenCom report explained that the diminution was mainly due to investment returns, particularly depreciation in the prices of equities during the period.
The report further stated that the value of investments in domestic quoted ordinary shares stood at N1.97tr (9.60% of total assets under management) indicating a net decrease of N114.63bn (5.51%) compared to N2.08tr as at March, 2024. The cause of the decrease in the value of investments in domestic quoted equities “was primarily due to the depreciation in the prices of some stocks during the reporting period, as the Nigerian Stock Exchange Pension Index (NSE-PI) depreciated by 2.26% in Q2:2024 relative to a significant appreciation of 38.50% in Q1 2024.
“The value of investments in FGN Securities increased by N759.13bn (6.22%) to N12.96tr as at 30 June 2024 from N12.20tr as at March 2024. The increase in the value of investments in FGN Securities was majorly due to additional investments, in the asset class during the quarter.” the report stated.
