*RSA Fund II remains the biggest Fund with N5.59 trillion followed by RSA Fund III with N3.35 trillion representing 43.8% and 26.23% respectively
According to PenCom’s latest monthly report, the Nigerian Contributory Pension Scheme’s (CPS) assets under management (AUM) increased by 13.0 percent Y-o-Y to N12.78 trillion at the end of July 2021, indicating a 1.0 percent M-o-M rise from June 2021.
At the end of July, FGN securities accounted for 64.2 percent of total assets. Corporate and state government securities accounted for 72.4 percent of the total AUM in the industry.
According to the research, Nigeria’s pension fund’s net asset worth increased by 0.98 percent in July 2021, while 22,349 RSA registrations were reported in the same month, bringing the total number of contributors to 9.4 million.
A brief examination of the statistics reveals that the value of pension assets increased by N474.49 billion between January and July of this year. In a similar spirit, 189,765 new contributors have joined the scheme so far this year.
Domestic equities increased their part of AUM from 4.6 percent to 6.7 percent in the last year, while members’ holdings increased by 65 percent to N862 billion. The all-share index (ASI) climbed by 56 percent during the same time period, showing a small underlying shift by institutions towards domestic equities.
Bonds make up the majority of FGN’s assets, accounting for 59.9% of total AUM. Following the unusual 2020 Q4, investors have had a really good run since the beginning of the year.
At the end of July, the average value of a retirement savings account (RSA) was N1.08 million, slightly higher than the previous month.
The RSA Fund V, which was designed for micro pensions for the self-employed and SMEs, received just N177 million at the end of July.
Download the full report here
Source: ProShare, Nairametrics, PenCom