Performance of all PFAs in Nigeria for January to February 2024 (Year to Date)

April 1, 2024 PensionNigeria

The performance of all Pension Fund Administrators (PFAs) in Nigeria for January to February 2024, was GREEN for Fund I, II, III and IV for all PFAs in Nigeria, except for one PFA whose performance was RED in Fund I and II, i.e the PFA had a negative return on investment for the Funds during the period under review.

Performance of NGX Pension Index and NGX Pension Broad Index

We track the performance of NGX Pension Index and NGX Pension Broad Index for January to February 2024 and they both returned GREEN for January to February 2024.

NGX Pension Index 9.75%
NGX Pension Broad Index 34.53%

The NGX Pension Index tracks the performance of equity securities that meet the profitability and dividend payment criteria, with the total capped at 40 stocks.

The NGX Pension Broad Index tracks the performance of equity securities that meet the profitability and dividend payment criteria, with no limit or cap on the number of stocks that can be included.

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Industry average Return on Investment (ROI) for January to February 2024

The industry average Return on Investment (ROI) per fund shows the average performance of all PFAs in Nigeria for Fund I, II, III and IV for January to February 2024.

RSA Fund I Industry Average for 19 PFAs 3.50%
RSA Fund II Industry Average for 19 PFAs 3.48%
RSA Fund III Industry Average for 19 PFAs 2.82%
Retiree Fund IV Industry Average for 19 PFAs 2.09%

PFAs that appeared most in Top 5 PFAs per Fund based on Return on Investment (ROI)

The analysis below shows the number of times a PFA appeared in Top 5 PFAs for Fund 1, 2, 3 & 4, based on Return on Investment (ROI) for the four (4) Funds, for January to February 2024

PFAs that appeared Top 5 in 4 Funds for January to February 2024
Nigeria Police Force Pensions Limited

PFAs that appeared Top 5 in 3 Funds for January to February 2024
Fidelity Pension Managers Limited
Trustfund Pensions Limited
Veritas Glanvills Pensions Limited

PFAs that appeared Top 5 in 2 Funds for January to February 2024
Nil, No PFA appeared top 5 in only two Funds

PFAs that appeared Top 5 in 1 Fund for January to February 2024
Leadway Pensure PFA Limited
Pensions Alliance Limited
Stanbic IBTC Pension Managers Limited
NLPC Pension Fund Administrators Limited
CrusaderSterling Pensions Limited
FCMB Pensions Limited
Access Pensions Limited

Top 5 PFAs based on Return on Investment (ROI) for each Fund

The table below shows the Top 5 PFAs based on Return on Investment (ROI) for each Fund, for January to February 2024, with the percentage increase for each PFA.

PFAs based on average Return on Investment (ROI) per PFA

The table below shows all PFAs based on the average Return on Investment (ROI) for each PFA, for Fund 1, 2, 3 & 4, for January to February 2024. This is the best performance monitoring tool for each PFA based on ROI, because it shows each PFAs’ average performance for the four funds for the period under review.

PFA Performance per Fund

Also below are the performance of all PFAs per fund for January to February 2024

Fund 1 is a special but optional Fund that Retirement Savings Account (RSA) holders who are below 50 years old can request to be moved to. It has the highest exposure to stock among the Funds under the Multifund structure, meaning that a higher percentage of Fund 1 is invested in buying shares of companies compared to other funds. If you have requested to be moved to Fund 1, you should pay particular attention to the performance of Fund 1 but also constantly have a look at the performance of Fund 2 to be sure you made a right choice moving to Fund 1.

Fund 2 is the default fund under the Multifund structure for RSA holders who are below 50 years old. Multifund structure gives these RSA holders the right to request to be moved to Fund 1 if they choose to. The maximum equity exposure for Fund 2 is 25%. If you are below 50 years old, you should pay particular attention to the performance of Fund 2 but you should also monitor the performance of Fund 1 to assist you in deciding whether to move to Fund 1 or not. Any RSA holder below 50 years old who has not requested specifically to be moved to Fund 1, will be in Fund 2.

Fund 3 is the default Fund for RSA holders who are 50 years old and above but have not retired. Multifund structure gives PFAs the right to move these RSA holders who were in Fund 2 before the Multifund structure, to Fund 3, but the RSA holders can request to be moved back to Fund 2, if they choose to. Maximum Equity Exposure for Fund 3 is 10%. If you are 50 years & above and you have not requested to be moved back to Fund 2, then you will be in Fund 3. You should pay attention to the performance of Fund 3 and keep an eye on the performance of Fund 2 to enable you decide whether to move back to Fund 2.

Fund IV, this is the Retiree Fund. All RSA holders that have retired are automatically moved to Fund 4 and Retirees can not move to other Funds. Fund 4 has the lowest Equity Exposure of 5%.

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