States Securities Taking Back Seat With N141bn Pension Fund Investment – Report
The states securities have recorded the lowest percentage to a paltry 1.34% or N141billion out of the N10.50trillion pension fund for investment, a situation industry watchers attribute to their inability to enact pension laws and laws that will comply with the Contributory Pension Scheme under the Pension Reform Act 2014 in their domains.
This is a sharp contrast from the investment of the funds in the Federal Government securities which stands at over N7.09trillion or 67.51% of the N10.50trillion assets under management, the largest chunk of the pension fund investment, according to reports.
According to available statistics, the Contributory Pension Assets rose by approximately N77billion in February 2020 compared to the N212billion in January 2020.
While total assets under the CPS also rose to about N10.50trillion, followed by local money market securities with N1.60trn or 15.25%, investment of the fund in Corporate Debt Securities stood at N662bn, representing 6.30%.
Within the same period, N532bnDomestic Ordinary Shares N532bn, 5.07%, Real Estate Properties N220bn, 2.09%, State Govt Securities N141bn 1.34%, Foreign Ordinary Shares N65bn 0.62%.