The nation’s Pension Fund Belongings nosedived by N90billion, having dropped from N19.75 trillion in February, 2024 to N19.66 trillion in March 2024.
In accordance to an information on efficiency of the pension trade in March, 2024 lately launched by the Nationwide Pension Fee(PenCom), the belongings was N19.53trillion in January, grew by N130 billion to N19.75 trillion in February whereas it suffered a N90 billion setback in March, 2024 to remain at N19.66 trillion in March, 2024.
The drop in pension belongings worth might be linked to a lull in some funding shops wherein pension belongings have been invested in.
In March 2024, the equities market attracted N2.3 trillion, having rose from N1.77 trillion in December 2023.
This improvement, in response to information from PenCom, interprets to N530 billion invested within the equities market inside three months below assessment. This additionally means the equities market had attracted about 11.79 per cent of the N19.66 trillion pension fund belongings as at March 2024.
On his half, the chief secretary/chief government officer(CEO), Pension Fund Operators Affiliation of Nigeria(PenOp), Oguche Agudah, whereas reacting to this improvement, famous that, there is a rise in allocation to home listed equities by the pension funds from 8.56 % to 9.89 % of their complete belongings, including that, overseas odd shares additionally performed a task within the surge, even because the devaluation of the Naira meant the revaluation of overseas belongings upwards, resulting in a development within the worth of overseas belongings held by CPFAs by over N118 billion.