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Wednesday, March 29, 2023

Pension Funds Increase Equities Exposure by 35% in 2 Months

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Nigerian Pension Funds increased their holdings of domestic equities by 35 percent in the 2 months’ period between September and November 2020, according to the latest data from regulator PENCOM.

Holdings of domestic ordinary shares by Pension Fund Administrators (PFAs) surged to N790 billion last November from N585.76 billion in September. Nigerian stocks rallied by 50 percent in 2020, one of the best performance in global markets.

Fund managers are rotating into equities in anticipation of dividend distributions from banks, Telco’s and Industrial firms due in 2 months’ time amid low fixed income yields, sources tell MoneyCentral.

Total pension assets meanwhile hit a high of N12.29 trillion in the latest period. Nigerian Pension assets are growing at a rate of about N230 billion a month.

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