Nairametrics| RSA Pension funds, on the average, returned 2.84% while Retiree Funds had an average return of 3.4% in the first Quarter of 2017. By contrast, the return of the Nigeria Stock Exchange’s Pension Index for Q1 2017 is negative -1.14%. It is important to add that only about 7.5% of total pension fund assets are invested in equity.

All the pension funds category tracked by Quantitative Financial Analytics (QFAC) produced positive quarterly returns.

  • In the RSA Pension fund category, APT Pension fund led the performance table with a Q1 performance of 3.77% followed by AXA Mansard Pension’s 3.52% while the third in the performance table is AIICO RSA fund with 3.49%.
  • In the Retiree Fund category, APT Retiree fund also produced the best return of 4.56% followed by AIICO Retiree pension fund with 4% while First Guarantee Pension Retiree fund took the third position with 3.82%.
  • Pension Alliance Emenite and Guinness funds, the only two funds in the Gratuity category also performed well with first Quarter returns of 3.72% and 3.43% respectively.

Nigeria’s Pension fund investment growth in the first three months of the year has now added to a period of extended positive performance that has characterized the industry for the past five years or as long as Quantitative Financial Analytics began tracking pension funds.


Uchenna Ndimele is the President of Quantitative Financial Analytics Ltd. and (both Quantitative Financial Analytics company website) is a leader in supplying mutual fund information, analysis, and commentary on African mutual funds. We provide reliable fund data; and ratings information that will add value to fund managers, the media, individual investors and investment clubs.


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