ARM Pensions asset under management hits N494 billion

ARM Pension Mangers Limited has grown its asset under management (AUM) to N494.37 billion at the end of 2016 financial year, indicating a 13.92 percent increase from N433.95 billion posted at the end of 2015.

The Pension Fund Administrator (PFA), also achieved a 10.8 percent growth in gross revenue, moving from N5.91 billion in 2015 to N6.55 billion in the review year.

Figures made available at the Company’s 12^th Annual General Meeting held in Lagos, shows a 34 percent increase in profit after tax (PAT) to N2.53 billion as against N1.90 billion at the close of business in 2015. 

Emmanuel Ikazobo, chairman of the Company speaking at the meeting said the PFA continues to meet its stakeholder’s expectation despite the tough economic environment.

He attributed the good performance on the hard work of the board and management, assuring the commitment of the company for quality service delivery and better returns on investment.

Layi Afolabi, executive director, Operations speaking on the performance of the company in 2016 said in terms of profitability, the company is strong and still moving forward. 

He said that though 2016 was a tough year for businesses, the pension industry continues to enjoy public confidence as result of its strong regulation, and so companies that have capacity continue to remit their employee’s pension contribution continued uninterrupted.

Afolabi however stated that the ARM Pension Managers did not rest on its oars, as it continued to engage with its current crop of clients through different platforms to further deepen existing relationships.

“One significant thing we did in 2016 was to reorganize our ‘Relationship Unit’ by ensuring that we have proper engagement with the employer and even the employees. We have realized that the kind of service we give even though is like end of term service because people don’t need their pension until they retire, but we don’t base our proactiveness on that. So, we move along with our clients even though we know they have not reached that retirement age, just to ensure we develop that relationship by getting closer to them, and that has given us some advantage over competition.” 

“We have also worked very hard to ensure that we are part of the pension management in all the States of the federation that has signed onto the CPS. Also as a business, we have deployed strategies to ensure that we deliver good returns on investment. One of our competitive age right from time is the kind of returns on investment we deliver on the funds under we manage and that makes us competitive even at the larger market.”

“From the beginning, ARM Pensions distinguished itself as a great expert in fund management, last year we closed above 10 percent, which is a decent return, Afolabi said.

 

Modestus Anaesoronye