This Is How PFAs Have Invested Your Pension Funds

The Pension Fund Administrators have invested a total of N1.9tn in the Federal Government of Nigeria bonds.

A document obtained from the National Pension Commission on Tuesday indicated that the figure represented 45.2 per cent of the total pension funds under the custody of the PFAs as of March, 2014.

PenCom gave the total assets under the Contributory Pension Scheme as N4.2tn.

The report also showed that the PFAs had invested N737.2bn and N548.7bn in the FGN treasury bills and domestic ordinary shares, which are 17.5 per cent and 13.04 per cent of the total funds, respectively.

It gave the amount invested in the local money market securities as N355.2bn; real estate properties, N228.4bn; state government securities, N195.2bn and corporate debt securities, N79bn.

The PenCom report also showed that N53.16bn was invested in foreign ordinary shares; N46.2bn, cash and other assets; N22bn, open/close-end funds and N9.3bn, private equity funds.

According to the figures, N286m also went to foreign money market securities.

Source: Punch