Nigeria. PenCom Invests N8.744tn Pension Assets in 24 Asset Classes
The National Pension Commission (PenCom), said it invested the accumulated N8.744 trillion pension assets in 24 different asset classes with federal government securities taking the lion share of 72.91 per cent of the total funds.
A breakdown of this showed that federal government bonds which got 51.29 per cent share and investment in treasury bills got 20.40 per cent.
PenCom, in a recent publication on its website stated that as at January 31,2019, other asset classes in which the pension assets were invested were local money market securities which got 8.40 per cent; banks with 7.31 per cent investments; domestic ordinary shares which got 6.61 per cent, corporate debt securities which got 5.37 per cent, corporate bonds, which got 5.29 per cent, while real estate got 2.65 per cent.
In addition, state government securities got 1.62 per cent; commercial papers got 1.09 per cent, Sukuk bonds got one per cent; foreign ordinary shares with 0.69 per cent; cash and other assets with 0.57 per cent; private equity fund with 0.36 per cent; mutual funds with 0.29 per cent; infrastructure fund with 0.28 per cent; REITS with 0.18 per cent, foreign money market securities got 0.15 per cent agency bonds (NMRC&FMBN) got 0.1 per cent; while open/closed-end funds got 0.12 per cent of the assets.
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