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Friday, March 24, 2023

Pension Assets Hit N11.56trn as Fund Managers Buy Money Market Securities, REITs

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The total Pension assets under management (AuM) in Nigeria hit a high of N11.56 trillion as at September 2020 as fund managers continued to purchase money market securities while opening new positions in Real Estate Investment Trusts or REITs.

Pension Assets rose by 1.9 percent or just over N219 billion month on month, led by an increase in bank placements and commercial paper purchases by Pension Fund Administrators (PFAs).

Total investments in local money market securities came in at N2.008 trillion, as fund managers sought higher yielding assets.

Largely new positions equivalent to N92.9 billion were also opened in REITs, compared to just N11.3 billion a month ago.

The number of contributors to the Pension scheme increased to 9.146 million up by some 43,000 people in a month.

Total assets invested in domestic ordinary shares rose marginally while investments in corporate debt fell in the period.

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