Nigeria’s Pension Commission net asset value rose tremendously in the year 2023.
Investments in this sector has experienced huge growth in almost all platforms.
Pension Fund Operators Association of Nigeria (PenOp) has revealed that the pension net asset value rose to ₦17.7 trillion at the end of October 2023.
Data from PenCom, investment in ordinary shares grew from ₦1.1 trillion in 2023 to ₦1.59 trillion at the end of October 2023.
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Also, investment in Federal Government Bond grew from ₦9.48 trillion in January to ₦11.42 trillion in October.
Meanwhile, PenCom’s investment in the Money Market dropped significantly from ₦1.88 trillion in January to ₦1.69 trillion in October 2023.
Also. infrastructure fund investment gained, rising from ₦113.49 billion in January to ₦130 billion in October last year.
It rose from ₦15 trillion in January 2022, and was driven by diversified investment strategy of PenOp.
“2023 was a good year for pension fund investments, represented by some of the asset classes in pension fund portfolios.” PenOp said.
“From January until October 2023, ordinary shares witnessed a noteworthy increase of ₦58 billion, underscoring their robust performance.
“Simultaneously, Federal Government bonds exhibited substantial growth, marking an impressive uptick of 1.94 trillion”
According to the Association, there was a slight reduction of ₦19 billion in investments in the money market during October.
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“This suggests a strategic reallocation of pension fund assets to other classes.
“Notably, investments in infrastructure experienced a positive surge, showing an increase of ₦17 billion during this period.
“These shifts in asset values signify a responsive and diversified investment strategy, optimizing the portfolio to capitalise on varying market conditions and opportunities.”
