The National Pension Commission (PenCom) has disclosed that the Pension Industry Net Asset Value (NAV) increased by 3.94 per cent (N568.33 billion) to N14.99 trillion compared to a NAV of N14.42 trillion as at 30 September, 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.
The growth was mainly due to contributions received and positive investment performance during the period.
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 N52.14 billion (5.40%) compared to N964.87 billion as at 30 September, 2022.
The increase in the value of investments in domestic quoted equities was primarily due 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.
The value of investments in FGN Securities increased by N451.82 billion (4.92%) to N9.64 trillion as at 31 December 2022 from N9.19 trillion as at 30 September, 2022.
The increase in the value of investments in FGN Securities was majorly due to additional investments in this asset class during the quarter.
The Net Asset Value of the RSA ‘Active’ Funds, which includes RSA ‘Active’ Funds I,II, III, Fund V as well as Fund VI Active was N10.72 trillion as at 31 December 2022.
This represented a net growth of N413.90 billion (4.02%) as the NAV increased from N10.30 trillion as at 30 September, 2022 to N10.72 trillion as at 31 December, 2022. These figures were exclusive of the balance of N35.63 billion and N37.46 billion in respect of the contributions of FGN workers awaiting transfers to PFAs as at 30 September, 2022 and 31 December 2022, respectively.
The RSA Fund II, which is the default RSA Fund under the Multi-Fund Structure, maintained the largest share of the Active RSA Funds as it represented 60.30 per cent of the RSA ‘Active’ Funds.