National Pension Commission Activities Update at Capital Market Committee Meeting
Explore recent developments and key highlights from the National Pension Commission's presentation at the Capital Market Committee meeting in Abuja, Nigeria in November 2019. The update covers pension statistics, directives from the Securities and Exchange Commission, and the development of a framework for Non-Interest Fund implementation. Discover insights into pension fund assets, investments in FGN securities, and more.
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Presentation Transcript
An update of activities of the National Pension Commission A Presentation to the: Capital Market Committee Meeting NATIONAL PENSION COMMISSION ABUJA, NIGERIA NOVEMBER, 2019
2 Outline 1. Recent developments from last CMC Meeting 2. Pension Statistics as at 30 September 2019
3 Recent developments from last CMC Meeting The Securities and Exchange Commission (SEC) had issued a circular directing that only Capital duly registered by SEC are eligible to be paid brokerage fee/receiving agents Commission and such Operators shall not pay or offer a percentage of the commission earned from service provided in a transaction as an incentive for investment. Accordingly, the Commission directed all PFAs in line with the SEC directive, that PFAs are no longer required to negotiate or receive a commission from Primary (PDMMs)/Issuing Houses/Receiving Agents on Market Bonds Transactions. Market Operators portion Dealer of the Market brokerage Makers Primary
4 Recent developments from last CMC Meeting The Commission is currently developing the framework for the implementation of Non-Interest Fund (Fund VI). Already liaising with SEC and CBN in this regard. The implementation Framework is expected to be exposed to pension operators stakeholders soonest. and other relevant
Summary of Pension Fund Assets 5 The total value of pension assets amounted to N9.58 Trillion as at 30 September, 2019, representing a net quarterly growth of N257.32 billion (2.76%), when compared with the value of N9.33Trillion as at 30 June, 2019. The net increase was mainly due to new investment incomes largely on fixed income securities. Investments in FGN Securities The value of investments in FGN Securities amounted to N6.84 trillion, representing over 71% of total industry portfolio. This was made up of investments in FGN Bonds (N4.48 trillion); Treasury Bills (N2.26 trillion); Agency Bonds (N10.69 billion); FGN Sukuk (N80.53 billion) and FGN Green Bond (N13.38 billion). pension contributions and
6 Summary of Pension Fund Assets September 2019 TOTAL PENSION FUND ASSETS As at 30-Sept-2019 TOTAL PENSION FUND ASSETS As at 30-June-2019 VARIANCE - Jun 19/Mar 18 ASSET CLASS((44 N' 000 492,082.59 65,141.76 6,844,876.52 4,476,590.84 2,263,693.75 10,690.06 Weight % 5.13% 0.68% 71.43% 46.71% 23.62% 0.11% N' 000 536,970.88 64,874.36 6,486,252.37 4,438,879.32 1,937,322.15 11,817.28 Weight % N' 000 (44,888.29) 267.40 358,624.15 37,711.52 326,371.60 (1,127.22) Weight % -8.36% 0.41% 5.53% 0.85% 16.85% -9.54% Domestic Ordinary Shares Foreign Ordinary Shares*** FGN Securities: FGN Bonds Treasury Bills Agency Bonds (NMRC & FMBN) 5.76% 0.70% 69.55% 47.60% 20.77% 0.13% Sukuk Bonds Green Bonds State Govt. Securities Corporate Debt Securities Corporate Bonds Corporate Infrastructure Bonds Supra-National Bonds Local Money Market Securities: Banks Commercial Papers Foreign Money Market Securities*** Mutual Funds: Open/Close-End Funds Reits Real Estate Properties*** Private Equity Fund Infrastructure Fund Cash & Other Assets Net Assets Value 0.84% 0.14% 1.31% 6.49% 5.97% 0.52% 0.04% 11.21% 9.93% 1.29% 0.09% 0.23% 0.10% 0.12% 2.51% 0.33% 0.36% 0.18% 100.00% 86,102.91 12,130.70 129,600.92 505,820.54 494,328.01 11,492.53 6,028.07 1,045,732.28 940,684.49 105,047.79 1,817.34 23,669.86 9,295.95 14,373.91 250,018.93 31,536.85 29,174.17 214,214.63 9,325,711.19 0.92% 0.13% 1.39% 5.42% 5.30% 0.12% 0.06% 11.21% 10.09% 1.13% 0.02% 0.25% 0.10% 0.15% 2.68% 0.34% 0.31% 2.30% 100.00% (5,577.59) 1,245.85 (4,358.08) 116,135.31 78,089.67 38,045.64 (1,997.09) 28,830.81 10,596.17 18,234.64 6,600.47 (1,856.43) 607.07 (2,463.51) (9,367.62) 517.04 5,721.29 (196,910 257,318.62 -6.48% 10.27% -3.36% 22.96% 15.80% 331.05% 33.13% 2.76% 1.13% 17.36% 363.19% -7.84% 6.53% -17.14% -3.75% 1.64% 19.61% -91.92% 2.76% 80,525.32 13,376.55 125,242.84 621,955.85 572,417.68 49,538.17 4,030.98 1,074,563.09 951,280.66 123,282.43 8,417.81 21,813.43 9,903.02 11,910.40 240,651.31 32,053.89 34,895.96 17,303.79 9,583,029.81 6 ***These are legacy assets of the AES/CPFA funds.
