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PFAs Dump Mutual Funds For FG Securities



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Pension Fund Administrators have abandoned the mutual fund segment of the capital market and moved to Federal Government securities and money market instruments.

This was indicated in the Unaudited Report on Pension Funds Industry Portfolio for April 2024, which was released by the National Pension Commission recently.

According to the report, mutual funds dipped by 19.93 per cent month-on-month to N85.19bn from N106.39bn in the previous month.

While mutual funds dipped, inflow to the FGN Securities, which includes bonds, treasury bills, sukuk bonds and others rose by 1.61 per cent to N12.40tn from N12.20tn.

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