APT Pension, AIICO Pension, Premium Pension, AXA Mansard, Fidelity Pension and seven others beat annual inflation in 2019 to emerge best performing Pension Fund Administrators in Fund II, Nigeria’s biggest total Retirement Savings Account (RSA) Fund.
Similarly, Premium Pension, APT Pension, AXA Mansard, AIICO Pension, Fidelity Pension and 15 other PFAs recorded above-inflation returns to rank best performing in Fund III category last year.
This is based on unit price change in 2019, according to data compiled by Pension Nigeria, a private sector organisation that tracks the sector.
The choice of Fund II and III is based on the fact that these fund types dominate total Retirement Savings Account (RSA) Funds, accounting for a combined 85.9 percent share, according to figures from National Pension Commission (PenCom).
Fund II is meant for contributors less than 49 years with maximum 55 percent exposure to variable income securities and pre-retiree Fund III is meant for contributors above 50 years with 20 percent maximum limit to variable investment securities.
APT Pension Fund Managers Ltd RSA Fund II opened 2019 at N2.7689 per unit but rose 19.38 percent, beating annual inflation of 11.58 percent in December.
The unit price of RSA Fund II of AIICO Pension Managers rose 16.45 percent to close the year at N3.6959 a unit.
Premium Pension Ltd RSA Fund II unit price rose 15.95 percent to N4.7612 in the year while AXA Mansard Pension and Fidelity Pension Managers rose 1.34 percent and 15.17 percent respectively to N3.2453 and 3.2302 a unit each.
Other PFAs that beat inflation includes Investment One Pension Managers, OAK Pension, Leadway Pensure, Pensions Alliance, Veritas Glanvills, NPF Pension, and Stanbic IBTC Pension Managers.
For RSA Fund III, Premium Pension saw 19.35 percent surge in unit price to N1.2656, APT Pension Fund Managers surged 17.64 percent to N1.2372, AXA Mansard Pension jumped 16.92 percent to N1.2402 while AIICO Pension Managers’ unit price rose 16.07 percent to N1.2384.
Meanwhile, unit price of Fidelity Pension Managers fund III rose 15.8 percent to N1.2146, Investment One Pension Managers rose 15.03 percent to N1.2034, Veritas Glanvills Pension surged 14.37 percent to N1.2057 and Stanbic IBTC pension Managers rose 13.68 percent to N1.1924.
Other PFAs that beat inflation includes Leadway Pensure, CrusaderSterling pensions, OAK pensions, Pensions Alliance, First Guarantee Pensions, Sigma Pensions, FCMB Pensions, NPF Pensions, Trustfund pension, ARM Pension Managers, Radix pension Fund Managers, and NLPC Pension.
Nigeria’s pension fund assets jumped 18.28 percent year-on-year to N10.22 trillion at the end of 2019.
Of the total amount, 71.87 percent or N7.344trn is held in Federal Government Securities with FGN bonds accounting for 52.39 percent of that allocation.
Of the total fund, 5.41 percent or N552.89bn is domestic equity while N71.28bn is in foreign equity.
Corporate debt securities account for 5.55 percent equivalent to N566.85bn while Supra-National debt asset is N4.143bn.
Mutual fund as at the end of 2019 made up less than 1 percent of total pension fund assets with infrastructure fund at N37.99bn only.
Returns on Investment is not the sole measure of the performance of an investment and past returns are not a guarantee of future outcomes.
