N14.99 Trillion, Pension Asset Value Increase By 3.94%

By Clement Alphonsus

According to the National Pension Commission (PenCom), Pension Industry Net Asset Value (NAV) has increased by 3.94 per cent (N568.33 billion) to N14.99 trillion in the fourth quarter of 2022.

PenCom in its fourth quarter 2022 Report said that the growth in Q4:2022 was significantly higher than the growth of N156.74 billion (1.09%) recorded in Q3:2022. It attributed the growth mainly to contributions received and positive investment performance during the period.

Also according to the report, the value of investments in quoted ordinary shares (domestic and foreign) stood at N1,017.01 billion (7.06% of total assets under management) indicating a net increase of N52.14b (5.40%) compared to N964b as at 30 September, 2022.

The growth in the value of investments in domestic quoted equities was linked to the appreciation in the prices of some stocks during the reporting period, as the Nigerian Stock Exchange Pension Index (NSE-PI) depreciated by 8.03% in Q4:2022.

However, the value of investments in FGN Securities increased by N451b (4.92%) to N9.64 trillion as at 31 December 2022 from N9.19 trillion as at 30 September, 2022.