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Home Pension

FGN Bonds, Equities & Contributions Give Enhanced Growth To Q2 Report

Staff Reporter by Staff Reporter
December 1, 2021
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The pension industry net assets value NAV of the pension fund assets in Q2 2021, shot up by N317.21bn or 2.57%. The stats of the period under review notes that the increase brought the NAV to N12.66tr from N12.34tr as at March 2021.

The National Pension Commission noted that the growth of N317bn recorded in NAV Q2 was higher than the growth of N33.80bn (0.27%) recorded in Q1: 2021, mainly due to contributions received and the market valuations of FGN bonds and equities.

PenCom stated that the value of investments in quoted ordinary shares stood at N948.39bn, representing 7.49% of total assets under management and indicated an increase of N9.59bn or 1.02% compared to N938.80bn as at 31st March 2021.

The pension regulator attributed the increase in the value of investments in domestic quoted equities to appreciation in the prices of some stocks during the period, as the Nigerian Exchange pension index appreciated by 8.60% in Q1: 2021.

Pertaining to FGN securities, PenCom stated that the value of investments was fairly stable as it dipped slightly by N31.48tr (0.37%) to N8.47tr as at June 2021 from N8.51tr as at March 2021.

However, the Commission said the slight diminution in the value of investments in FGN securities was majorly due to matured investments in treasury bills deployed to other asset classes during the quarter.

Table 12 Comparative Pension Industry Portfolio Q1: 2021 vs Q2: 2021

   TOTAL PENSION FUND ASSETS  TOTAL PENSION FUND ASSETS  VARIANCE
 31-Mar-2130-Jun-21Mar -Jun 21
ASSET CLASS₦‘BillionWeight %₦‘BillionWeight %₦‘BillionWeight %
Dom es tic Ordinary Shares841.7986.82843.1976.661.400.17
Foreign Ordinary Shares97.0050.79105.1910.838.198.44
  FGN Securities :  8,506.38  68.93  8,474.90  66.96  (31.48)  -0.37
FGN Bonds7,673.7762.197,814.1961.74140.421.83
Treas ury Bills721.745.85548.134.33(173.61)-24.05
Agency Bonds (NMRC)12.910.1013.600.110.695.34
Sukuk85.070.6986.100.681.031.21
Green bonds12.880.1012.880.10(0.00)-0.01
State Govt. Securities109.360.8997.990.77(11.37)-10.40
  Corporate Debt Securities  620.57  5.03  950.98  7.51  330.41  53.24
Local Money Market Securities1,675.8813.581,736.9313.7261.053.64
Foreign Money Market Securities8.170.070.040.00(8.12)-99.50
Mutual Funds :66.670.54116.340.9249.6774.49
Open/Clos e-End Funds62.090.5031.970.25(30.13)-48.52
REITs4.580.0484.370.6779.791742.26
Real Es tate Properties237.311.92156.881.24(80.42)-33.89
Private Equity Fund33.940.2834.100.270.160.47
Infras tructure Fund66.880.5466.500.53(0.38)-0.56
Cas h & Other As s ets76.010.6274.120.59(1.88)-2.48
Net Assets Value12,339.96100.0012,657.17100.00317.212.57
Source: PenCom Second-Quarter 2021 Report.
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