 increased their exposure to domestic ordinary shares in the month of March, according to the latest data.){kind=link}
Pension Fund Administrators (PFAs) increased their exposure to domestic ordinary shares in the month of March, according to the latest data from the National Pension Commission or PENCOM.
It was at the highest levels since January 2020.
PFA allocation to equities rose to N530 billion in May 2020, equivalent to 4.91 percent to total assets under management (AuM).
This compared with their April position of N488.4 billion or 4.62 percent of AuM, N442.37 billion in March or 4.28 percent of total AuM, N523.4 billion in February or 5.07 percent of AuM.
Pension Funds have been loath to invest in Nigerian equities, instead preferring to park cash in Federal Government securities like bonds and Treasury Bills.
However, a slide in fixed income yields has seen them begin to hunt for some bargains in beaten down stocks, analysts told MoneyCentral.
The total Retirement Savings Account (RSA) registrations stood at 9.016 million in May, compared to 9.005 million in April, while total contributions in the latest period rose to N10.795 trillion.