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Published On: Wed, Oct 24th, 2018

PFAs invest N1.49trn in treasury bills

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From Ngozi Onyeakusi, Lagos

Not less than N1.49 trillion have been invested by Pension Fund Administrators (PFAs) in Treasury Bills.
According to the monthly National Pension Commission (PenCom) report released at the weekend in Abuja by its spokesman, Peter Aghahowa, the PFAs invested N4.22 trillion in Federal Government’s bonds; Federal Mortgage Bank of Nigeria (FMBN) got N10.91 billion; Sukuk bonds, N53.15 billion; and green bonds, N6.96 billion.
The report added: “State government securities took N154.43 billion. Corporate bonds got N400.45 billion with corporate infrastructure bonds amounting to N7.33 billion, even as banks had N849.09 billion.
“Others include commercial papers, N116.76 billion and real estate properties, N226.64 billion and supranational bonds, N6.67 billion.
“Open and close end funds, N12.18 billion; mutual funds, N21.29 billion; private equity fund N38.57 billion; infrastructure fund, N16.07 billion; other assets N24.56 billion and Reits, N9.10 billion,” the commission said.
According to the commission, the total sum invested in Federal Government’s securities by PFAs stood at N5.78trn out of N8.33 trillion pension assets as at August.
“The investment represents 69.30 per cent of N8.33 trillion pension assets,” the commission said.
The commission, in the monthly report, also reclassified the pension assets according to the new structures, namely; 1, 11, 111 and 1V multi-fund structures.
“Fund I has N4.55 billion; Fund II, N3.69 trillion; Fund III N1.96 trillion and Fund IV N619.59 billion.
“It noted that Closed Pension Fund Administrators Fund (CPFAs) is N1.08 trillion and Existing Schemes (ES) N957.50 billion,” it said.
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