Pension Commission said assets under management of the regulated pension industry increased by 17.9 percent to N12.30trillion at the end of January, 2020.
According to the latest monthly report released by the Commission on Wednesday, the asset mix remained heavily skewed towards FGN securities, which represented 65.9 percent of the total.
It said the corporate debt market has grown from a small base with some high-profile new issues. Holdings rose by 28.2 percent to N836billion in January.
“When we add state government and supranational issuance into the mix, we find fixed income exposure equivalent to 73.8 percent of the industry’s AUM.
The holdings of FGN paper are predominantly the bonds, which represented 59.6 percent of total AUM. This was an increase of four percentage points in just one month. Over 12 months the share of NTBs has collapsed from 15.2 percent to 5.4 percent” the report said.
The report noted that the share of domestic equities rose from 5.7 percent to 7.5 percent over the twelve months, and members’ holdings by 54.6 percent to N920billion. Over the period the all-share index increased by 47.0 percent.