The National Bureau of Statistics (NBS) has disclosed that FGN Bonds contributed 49.37 per cent of N9.03 trillion total pension funds asset in first quarter (Q1) of 2019.
The Bureau in its ‘Pension Asset and Membership Data’ report noted that Pension Fund Asset under management as at Q1 2019 stood at N9.03trillion as against N8.63trillion in fourth quarter of (Q4) 2018.
The report by NBS stated that N 4.46 trillion pension funds was invested in FGN bonds while a total of N1.94 trillion goes into Treasury bills.
The report said, Domestic Ordinary Shares as at Q1 2019 was N590.61 billion or 6.54 per cent contribution to N9.03 trillion total pension assets in Q1.
According to NBS, “FGN Bonds has the highest weight percentage of 49.37per cent of the total pension fund assets and closely followed by treasury bills with 21.44per cent weight and local money market securities with 9.68per cent weight while foreign money market securities has the least with 0.25per cent weight.”
Source: Nigerian NewsDirect