Pension Fund Increases Investment in Infrastructure to N41bn

• Pension Fund Increases Investment in Infrastructure to N41bn

The National Pension Commission (PenCom) has disclosed that Pension Fund Administrators (PFAs)’s total investments in infrastructure rose from N37.5 billion filed in October 2019 to N40.52 billion in November 2019, PenCom stated in its monthly report released recently.

According to the report, PFAs invested 70.88 percent or N7 trillion of its N9.9 trillion pension fund assets in the Federal Government securities.

A break down shows N4.86 trillion of the total fund was invested in Federal government bonds, while N2.1 trillion was invested in Treasury Bills. Another N78.1 billion, N10.82 billion and N15.64 billion were invested in Sukuk bond, agency bond and green bonds, respectively.

Also, the commission splashed N117.79 billion on state governments’ securities, with state government bonds and corporate bonds taking 29.12 percent of total fund.

The N10.82 billion agency bond, according to the commission, was invested in two government agencies, the Nigeria Mortgage Refinancing Company and the Federal Mortgage Bank of Nigeria.