Pension Fund performance ranking for October 2020

In what could be best described as magic, in an environment where the markets all over the world are grappling with the effects of a pandemic, Nigerian pension fund managers are churning out positive performances in double digits.

The high-interest regime that characterized the Nigerian market in the early to the tail end of 2019 paid off for many pension funds in Nigeria who recorded impressive performances in 2019. It, however, beats my imagination that under current low-interest regime of 2020 and other headwinds in the market, that pension fund managers would even do better, in terms of performance in 2020.

Going by an analysis conducted by Quantitative Financial Analytics based on pricing information gleaned from various fund managers’ websites, the Retirement Savings Account (RSA) category made an average of 18.61%, with returns ranging from 52% to 8.99%.

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Information about the performance of Crusader Pension RSA was not available and efforts to get such information yielded no result. Crusader Pensions RSA is therefore excluded in this report.

Below are the 5 best performing RSA funds as at the end of October 2020, on a year to date (YTD) basis.

Best Performing Fund:

Name of Fund: NLPC Pensions RSA Pension Fund 2

YTD Performance %:  52%

YTD Gain per unit:  N2.05

2nd Best Performing Fund:

Name of Fund: AXA Pensions RSA fund 2

YTD Performance %:  29.2%

YTD Gain per unit:  N0.88

3rd Best Performing Fund:

Name of Fund: Anchor Pensions RSA Fund 2

YTD Performance %:  26.87%

YTD Gain per unit:  N0.73

4th Best Performing Fund:

Name of Fund: Fidelity Pensions RSA Fund 2

YTD Performance %:  23.34%

YTD Gain per unit:  N0.75

5th Best Performing Fund:

Name of Fund: OAK Pensions RSA Fund 2

YTD Performance %:  22.44%

YTD Gain per unit:  N0.68

Retiree Fund Performance

Retiree Pension funds, otherwise known as fund 4, performed slightly less than the RSA funds. On average, Retiree funds generated an average return of 15.15% on a YTD basis as at October 2020. The returns which ranged from 39.26% to 7.65% have the NPLC Retiree fund taking the lead. Again, Crusader Retiree Pensions funds is excluded from the analysis for lack of data.

Here are the best 5 Retiree funds.

Best Performing Fund:

Name of Fund:  NLPC Pension Retiree Fund 4

YTD Performance %:  39.26%

YTD Gain per unit:  N1.34

2nd Best Performing Fund:

Name of Fund: Investment One Pensions Retiree fund 4

YTD Performance %:  36.18%

YTD Gain per unit:  N0.91

3rd Best Performing Fund:

Name of Fund: Fidelity Pensions Retiree Fund 4

YTD Performance %:  24.64%

YTD Gain per unit:  N0.81

4th Best Performing Fund:

Name of Fund: AXA Pensions Retiree Fund 4

YTD Performance %:  21.56%

YTD Gain per unit:  N0.65

5th Best Performing Fund:

Name of Fund: NPF Pensions Retiree Fund 4

YTD Performance %:  19.19%

YTD Gain per unit:  N0.28

PENCOM Transfer Window

The type of performance noted above is good news for retirement planning. The goal of anyone planning and saving for retirement is to make such gains that would enable them retire gracefully and with so much financial accumulation that could help them do just that.

The importance of knowing how pension funds have and continue to perform cannot be timelier than now, given that the National Pension Commission of Nigeria has opened the transfer window for RSA account holders to decide on where to transfer their pension funds.

While it is widely known that past performance is not an indication of future performance, pension fund performance alone should not be the only reason or decision variable in transferring from one pension fund administrator (PFA) to another.

RSA account holders are enjoined to make their decisions as holistic as possible by considering all the factors before they move their funds. For those who want a complete list of the YTD performance of pension funds, you can make such request through the comment section of this publication.

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