Abuja:Pension fund assets under the Contributory Pension Scheme (CPS) have increased to N31.80 trillion as of August 31.
According to News Agency of Nigeria, the unaudited monthly pension industry report released by the National Pension Commission (PenCom) shows that pension assets grew by N289.40 billion from the N31.51 trillion recorded at the end of July. This growth represents a 0.92 percent increase in the total net asset value of pension funds for the month in review.
The report indicates that the total Retirement Savings Account (RSA) membership reached 11,391,008 by August. Pension fund investments were predominantly in Federal Government securities, ordinary shares, money market instruments, and corporate debt securities.
Federal Government securities, the largest investment category, accounted for N17.80 trillion of the total pension fund assets. Domestic ordinary shares made up N6.32 trillion, while foreign ordinary shares were N280.66 billion.
Investments in money market instruments, including fixed deposits, bank acceptances, and commercial papers, amounted to N3.27 trillion. Corporate debt securities contributed N2.21 trillion to the industry’s portfolio, while mutual funds stood at N326.64 billion.
Further, the report highlights that investments in infrastructure funds reached N344.62 billion, real estate investments were N132.81 billion, private equity investments accounted for N267.01 billion, and cash and other assets totaled N462.42 billion.
PenCom’s latest report updates on the size and investment composition of pension funds under the CPS.