PFAs gain N266bn from fixed income securities

The Pension Fund Administrators recorded N266.13bn gain from investment of pension funds in fixed-income securities in the third quarter of 2022. The commission revealed this in its 2022 third-quarter report on ‘Interest/coupons and dividends’. It stated, “The interest/coupons received on investments in fixed income securities amounted to N266.13bn in Q3:2022. The amount indicated an increase of 15.6 per cent per cent compared to the sum of N230.21bn recorded in Q2:2022; “The increase was attributed to higher yields on additional investments/ reinvestments in fixed-income securities during the period. Furthermore, dividends of N13.76bn received in RSA active funds represented a N11.91bn decrease relative to dividends of N25.66bn received in Q2:2022.” Punch Page 33