PenCom lists investment profile of N5.21 trillion pension assets

The National Pension Commission (PenCom), in a bid to prove that there is no idle fund in the kitty of Pension Fund Custodians (PFCs), has detailed how the pension assets, which stood at N5.21 trillion as at November 2015, were invested, with the Federal Government’s securities getting the lion share of N3.49 trillion amounting to 66.41 per cent.

The details, which were published on the commission’s website, showed that N505.71 billion, amounting to 9.97 per cent, was invested in domestic ordinary share, N69.10 billion (1.35 per cent) in foreign ordinary shares.
Federal Government of Nigeria securities got N3.49 trillion (66.41 per cent) a breakdown: Bonds N2.95 trillion (56 per cent) and treasury bills N480.26 billion (10 per cent).

State government securities got N157.13 billion (3.14 per cent); corporate debt securities, N179.45 billion (3.04 per cent); supra- national bonds, N12.69 billion (0.22 per cent); local money market securities, 516.18 billion (10.39 per cent); foreign money market securities, N645 million (0.01 per cent); open/closed end fund, N19.36 billion 0.42 per cent.

Real estate properties got N231.25 billion (4.52 per cent); private equities funds, N13.43 billion (0.34 per cent); infrastructure funds, N1.40 billion (0.02 per cent); cash & other assets, N58.71 billion (0.70 per cent) and other liabilities, N38.02 billion (0.52 per cent).

Director-General PenCom, Mrs Chinelo Anohu-Amazu, said the present assets which is placed at over N5.31 trillion are not laying idle in any bank account as alleged by those who do not understand the working of the Contributory Pension Scheme (CPS).

She noted that all pension funds are invested according to the industry’s investment guidelines, stressing that the industry’s investment guidelines specified how the funds are to be invested.

She explained some investors do not get funds from the industry because they failed to meet the requirements in the guidelines.

She said the industry is willing to investment in infrastructure and other projects, but the terms and conditions spelt out in the investment guidelines must be strictly adhered to. She maintained that the commission and pension operators would not bend the rules to please any body.