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Corporate Bonds Lead Charge as Pension Assets Rise N95bn in a Month

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Nigerian pension funds’ assets rose in the month of May led by allocations to corporate debt securities, according to the latest industry data released by the regulator PENCOM.

Total pension funds’ assets increased by N95 billion to N12.492 trillion in May, compared to N12.397 trillion in April, according to the data.

Pension Fund Administrators (PFAs), however increased their exposure to Corporate debt securities by N110.3 billion to the tune of N904.96 billion in the period.

Analysts tell MoneyCentral that the rotation was likely due to higher yields PFAs could earn on corporate bonds compared to other asset classes like FGN and money market securities.

Other asset classes were mostly flat or down including total exposure to domestic ordinary shares which fell to N821.34 billion for the period, from N830.6 billion, FGN securities at N8.348 trillion in May from N8.316 trillion in April and investment by PFAs in local money market securities which slid to N1.653 trillion in May from N1.736 trillion in April 2021.

The total retirement savings accounts (RSA) registrations rose marginally to 9.354 million in May from 9.328 million in April, according to the data.

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