NPF Pensions Limited emerged the most performing pension fund administrator (PFA) in 2024, recording 30 percent average growth and leading on four different fronts.
The police pensions company was followed by Access ARM Pension which led in Fund V. It is followed by Crusader Sterling Pensions which led in Fund V1 (non-interest active) and Premium Pensions that emerged the leader in Fund VI (non-interest-retiree).
Michael Oyebola, an analyst at Money Counsellors, said PFAs like NPF Pensions have benefited from aggressive yet calculated investment strategies, capitalising on favourable market conditions to achieve high returns.
Oyebola said the 2024 performances across Fund I underscore the diverse outcomes of risk-taking in pension fund management.
“As contributors, staying informed and proactive in monitoring your PFA’s performance is crucial to securing long-term financial stability.
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“With us now in 2025, all eyes are on how PFAs adapt their strategies to navigate new market challenges and opportunities,” Oyebola said.
A further analysis on performance of the PFAs revealed that Fund I, known for its supposed high-risk and high-return profile, showed varied performances across different PFAs in 2024.
NPF Pensions emerged as the leader in Fund I, delivering 38.87 percent returns, placing it significantly ahead of other PFAs and setting the benchmark for exceptional fund management in 2024.
Access ARM Pensions came second in Fund 1, with a return of 21.76 percent, followed by Veritas Glanvills Pensions at 20.14 percent. Both PFAs have demonstrated consistent strategies that have outperformed the market, Oyebola said.
FCMB Pensions and Leadway Pensure PFA also delivered strong results with returns of 19.78 percent and 18.97 percent respectively, placing them in the top quartile of performers.
The average return for Fund I across all PFAs stood at 17.78 percent, providing a benchmark for contributors to assess their PFAs’ performance relative to the market.
PAL Pensions and Stanbic IBTC Pension Managers achieved returns of 18.58 percent and 18.19 percent respectively, just above the average, demonstrating their ability to sustain reliable performance.
Fidelity Pension Managers, Oak Pensions, and Guaranty Trust Pension Managers followed closely, delivering returns of approximately 18 percent each.
Tangerine APT Pensions was the lowest performer with a return of 7.01 percent, with Norrenberger Pensions and Nupemco delivering 10.68 percent and 12.21 percent respectively.
Fund II demonstrated strong performance across various PFAs for the full year 2024. As of December 31, 2024, its returns showed a wide range of performances, with the highest return being 31.56 percent and the lowest at 12.12 percent. The average return across all PFAs stood at 17.22 percent.
NPF Pensions led the pack with a return of 31.56 percent, while PAL Pensions followed, with a return of 22.64 percent. They are followed by CrusaderSterling Pensions with a return of 21.54 percent.
Similarly, in Fund III, NPF Pensions again emerged as the standout performer with a return of 30.68 percent, far exceeding the fund group average and setting a high benchmark for the year.
Fidelity Pension Managers followed with a 17.09 percent returns, while PAL Pensions and CrusaderSterling Pensions also performed well, posting returns of 16.28 percent and 16.17 percent respectively.
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Fund IV also concluded the year 2024 with a range of performances across PFAs. Returns, as of December 31, 2024, showed a moderate performance spectrum, with the highest return being 18.05 percent and the lowest at 10.69 percent. The average return across all PFAs stands at 13.93 percent.
NPF Pensions, again, led the funds with a return of 18.05 percent, significantly outperforming the average. CrusaderSterling Pensions followed with a return of 15.41 percent, indicating consistent and reliable performance.
Access ARM Pensions and Oak Pensions also performed well, posting returns of 15.19 percent and 15.07 percent respectively.
Fund V concluded the year 2024 with a diverse range of performances across PFAs which offered the fund. The returns, as of December 31, 2024, showed a broad spectrum, with the highest return being 21.66 percent and the lowest at 6.23 percent. The average return across all PFAs stood at 16.58 percent.
Access ARM Pensions led the fund with a return of 21.66 percent, showcasing strong investment strategies and management.
Trustfund Pensions followed closely with a return of 21.05 percent, while Stanbic IBTC Pension Managers and PAL Pensions also delivered strong returns of 19.44 percent and 19.05 percent respectively.
The next fund is The Fund VI, called the non-interest active fund. Returns, as of December 31, 2024, showed a broad spectrum, with the highest return being 20.63 percent and the lowest at 7.40 percent. The average return across all PFAs stood at 16.25 percent.
CrusaderSterling Pensions led the funds with a return of 20.63 percent. Trustfund Pensions followed closely with a return of 19.83 percent.
PAL Pensions and Stanbic IBTC Pension Managers also delivered strong returns of 18.55 percent and 17.62 percent, respectively.
Fund VI, a non-interest fund tailored for retirees, concluded 2024 with a range of performances across PFAs. Returns, as of December 31, 2024, showed a moderate performance spectrum, with the highest return being 18.54 percent and the lowest at 9.34 percent. The average return across all PFAs stood at 14.83 percent.
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Premium Pension led the funds with a return of 18.54 percent, followed by Access ARM Pensions with a return of 16.86 percent.
Stanbic IBTC Pension Managers and PAL Pensions also delivered good returns of 16.65 percent and 15.97 percent, respectively.
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