The pension industry net asset value (NAV) increases has remained unabated, reporting increases from quarter to quarter as asset value leaps in measured low figures.
National pension Commission First -Quarter 2022 Report stated that the industry net asset value for the quarter increased by 3.38% (N453.76bn) N13.88tr compared to a NAV of N13.42tr as at 31 December 2021.
PenCom report cleared that the growth in Q1:2022 was higher than the growth of N423.65bn (3.26%) recorded in Q4:2021.
According to the report, the growth was mainly due to contributions received and market valuation of FGN bonds as well as quoted equities.
The comparative analysis of the pension industry portfolio for Q4:2021 and Q1:2022 showed that the value of investments in quoted domestic ordinary shares stood at N944.26bn (6.80%) of total assets under management), indicating an increase of N28.95bn (3.16%) compared to the N915.31bn invested in the asset class as at 31 December 2021. PenCom indicated that the increase in the value of investments in domestic quoted equities was primarily due to the appreciation in the prices of some stocks during the period, as the Nigerian Exchange Group Pension Index (NGX-PI) further appreciated by 9.95% in Q1:2022.
The report also stated the value of investments in FGN securities decreased by N271.62bn (-3.10%) to N8.50tr as at March 2022 from N8.77tr as at 31 December 2021. The report explained that the decrease in the value of investments in FGN securities was majorly due to matured investments in the classes during the quarter.