The National Pension Commission’s investments are beginning to yield massively.
This is what the commission revealed about its net asset value.
Meaning that if you want to invest make sure you do it properly to reap the good fruits.
The National Pension Commission (PenCom) has revealed that investments made in the foreign and domestic stock markets are yielding well.
PenCom said the Net Asset Value (NAV) of the domestic and foreign stock market rose to ₦1.54 trillion as of the end of September 2023, 9M’23.
This depicts an increase of about 59.6% from the ₦965 billion recorded in the same period of 2022, 9M’22.
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The commission also revealed that the Pension Fund Administrators (PFAs) increased the value of their assets in the domestic bourse by 59.5 % in the 9M’23 period, as a result of the bullish run in the stock market.
Local Investors Drive NGX Gains
The Nigeria Exchange Limited, NGX, All-Share Index (ASI) gained 29.52 in 9M’23 largely driven by institutional local investors.
Data revealed that the growth of the pension industry’s exposure in the stock market was also in tandem with the performance of the NGX Pension Index.
The NGX Pension Index rallied and gained 58.9% to close the period at 2,848.38 points.
Analysts say the Nigerian pension industry has been experiencing growth in recent years, following several regulatory reforms by PenCom.
The industry’s total assets increased by 20.3% in the 9M’23 to ₦17.349 trillion from ₦14.424 trillion in 9M’22.
FGN Securities Records 23% Growth
Federal government (FGN) securities, recorded a 23% growth in 9M’23 to stand at ₦11.309 trillion as against ₦9.192 trillion in 9M’22.
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While the corporate debt securities rose by 24.7% to ₦1.855 trillion from ₦1.487 trillion in 9M’22.
On the flip side, assets in money market instruments declined by 22% to ₦1.638 trillion from ₦2.105 trillion recorded in 9M’22.