National Pension Commission Activities Update

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Presentation on recent initiatives and summary of pension fund assets as of June 2016 by the National Pension Commission. Includes details on investment regulations, fund assets breakdown, and enquiries contact information.

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An update on activities of the National Pension Commission A Presentation to the: 2016 2ndCapital Market Committee Meeting NATIONAL PENSION COMMISSION ABUJA, NIGERIA AUGUST 2016

2 Outline 1. Update on recent initiatives of the Commission 2. Summary of Pension Fund Assets 3. Pension Fund Assets as at 30 June 2016 4. Enquiries

3 Update on initiatives of the Commission Amended Regulation on Investment of Pension Fund Assets (Including the Multi-fund Structure): The Commission is awaiting the approval of Mr. President, prior to issuance. Guidelines on Accessing RSAs Towards Equity Contribution for Residential Mortgage: The Guidelines had been undergoing the approval process, prior to issuance. concluded and currently

4 Summary of Pension Fund Assets 30-Jun-16 31-Mar-16 VARIANCE Asset Class Ordinary Shares FGN Securities: FGN Bonds Treasury Bills State Govt. Bonds Corporate Debt Securities Supranational Bonds Money Market Instruments Open/Close-End Funds Private Equity Fund Real Estate Properties Infrastructure Funds Cash & Other Assets Total Pension Fund Assets N'Billion 660.94 % N'Billion 537.93 % N'Billion 123.01 % 12% 10% 23% 3,379.23 487.08 139.59 269.81 12.82 496.35 18.65 18.66 212.84 1.61 31.73 5,729.31 61% 9% 3% 5% 0% 9% 0% 0% 4% 0% 1% 100% 3,235.76 448.69 152.82 186.42 12.47 577.04 22.20 16.69 212.26 1.34 57.17 5,460.80 59% 8% 3% 3% 0% 11% 0% 0% 4% 0% 1% 100% 143.47 38.39 (13.23) 83.39 0.35 (80.69) (3.55) 1.97 0.58 0.27 (25.44) 268.51 4% 9% (9%) 45% 3% (14%) (16%) 12% 0% 20% (44%) 5%

5 Pension Fund assets as at 30 June 2016 1. As at 30 June 2016, the total value of pension assets had a net growth of 5%, as it increased by from 5.46 Trillion on 31 March, 2016, to 5.73 Trillion as at 30 June, 2016. 2. The net increase in the value of assets was mainly due to new pension contributions received and market valuation of equity investments. 3. The increase in the value of Corporate Debt Securities resulted from new investment in the Series I and II Bond issuance by Lafarge Africa Plc.