It has been two months since the implementation of the multi fund structure by Nigeria’s National Pension Commission. Earlier on, we reported on the reporting readiness of the fund managers where we noted that though many of them had made efforts to meet the reporting requirements based on observed changes on their respective websites. Two months after, it may be worthwhile to look at the question that is in the minds pension investors as how these funds are doing, by these funds we mean funds 1 and 3.
According to analysis by Quantitative pension, fund managers have been slacking in meeting their reporting requirements with respect with fund 1 and 3 daily valuation reporting. Only 7 out of 18 pension fund managers are currently reporting the daily valuation of their funds 1 and 3 on their website. Efforts from our analysts to get the daily valuations from the respective fund managers failed as emails were not responded to.
Be that as it may, among those that were up to date with their reporting, Anchor Pensions Managers led the performance league among RSA pension fund 1 with 1.43% followed by Sigma Pension RSA fund 1 with a 1.25% performance. Pension Alliance, ARM Pension, Veritas Glanvills and IBTC Pensions recorded performances of 0.85%,0.77%,0.73%0.18% respectively in their respective fund 1 funds.
However, Legacy Pensions and NLPC Pensions reported negative returns of 0.52% and 0.59% respectively on their fund 1 pension funds.
The story is not too different with Fund 3 pension funds only that more pension fund managers reported their valuations. Of the 18 funds, 12 reported their daily valuations. The best performance came from AXA Mansard Pension RSA fund 3 with 2.7% return followed by AIICO Pensions RSA 3 Fund’s 2.08% return. Veritas Glanvills took the third position with 1.85% while Fidelity Pensions came next with 1.42%. In All, the RSA fund 3 made positive returns ranging from 0.93% to 2.7% although Sigma pensions recorded a negative return of 0.49%.
There is no doubt that the multi fund structure has begun with the right foot forward, although with some missing information on valuations, it is hoped that in the near future, our analysts will be able to report on the monthly performance of them all.
