• Thursday, February 29, 2024
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BusinessDay

FUG Pensions device new initiatives to triple asset under management

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The management of Future Unity Glanvills Pensions Limited (FUG), has stepped up plans to capture a proportional market share and deepen its business reach through a strategic market development initiative. The exercise is targeted at growing its assets under management three folds within the next three years.

The Company said it has designed programmes to capture more state accounts, multinationals and even local governments’ employees’ retirement savings accounts (RSA) as well as legacy funds, that would enable it grow her market share for higher profitability.

Usman Suleiman, managing director/CEO said  the company has commenced the restructuring of its operation to align with best global practices, saying that ongoing restructuring of operations is geared towards improved market share, effective and efficient service delivery un paralleled within the industry.

For us in FUG Pensions, we have pledged prompt and better service delivery for existing and potential customers in 2014 and beyond, given our robust information communication technology (ICT) platform recently upgraded and deployed to drive processes.”

The company has staff strength of over 85 members with thorough bred professionals manning each unit. Embedding the right culture and values in the organization is similarly important. As part of this process, senior management is formally assessed to ensure that they demonstrate the company’s desired values.

The restructuring, when completed would catapult the company to be among the top players in the industry, Suleiman stated.

In a similar development the company is concluding plans to move into its own property along Commercial Avenue in Yaba, Lagos State. The edifice would serve as the company’s corporate head office when it is finally ready for use. FUG Pensions prides itself with a N1.5 billion capital base, a quantum leap from the statutorily required minimum share capital of N1 billion. The company, in a statement added that it is out to prove its mettle in pension administration in Nigeria in all aspect of its business.

FUG operates from about 26 business outlets in six regional offices strategically located across the country. FUG Pensions brand, a corporate citizen of high repute is also a friend of its immediate environment with effective participation in corporate social responsibility (CSR) programs across the country.

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