The total assets under management (AuM) by Nigeria’s Pension Funds increased to N12.397 trillion in April, according to the latest data released yesterday by the regulator PENCOM.
The rise was led by increase in investments in corporate debt and local money market securities which had total assets of N794 billion and N1.736 trillion allocated to them respectfully, by Pension Fund Administrators (PFAs).
However, AuM invested in domestic stocks and FGN bonds fell.
The total number of Retirement Savings Accounts (RSA) increased to 9.328 million people for the period.