By Zainab Iwayemi
- But Stanbic IBTC still leads with 38.90%
Oak Pensions Limited and Veritas Glanvills Pension Limited have made an audacious attempt to wrestle industry leader Stanbic IBTC Pension Managers Limited in the RSA Fund 1 return on investment (RoI) for the year 2020, but the leading fund administrator still stood firm topping the list with 38.90 per cent, according to data compiled by Pensionnigeria.
The data shows that with 38.45 percent and 38.16 percent respectively, Oak and Veritas Glanvills were 0.45 percent and 0.74 percent close to levelling with Stanbic IBTC while Trustfund Pension and CrusaderSterling Pensions took the fourth and the fifth position with 33.87 percent and 29.49 percent respectively.
A further examination of the date shows that the Fund 1 industry average for 20 Pension Fund Administrators (PFAs) was 21.72 percent, with Stanbic IBTC and First Guarantee Pensions Limited emerging the highest and lowest, respectively, while the figure for Investment One Pensions Managers Limited and Nigerian University Pension Management Company were not applicable as of the period the data was compiled.
Similarly, 20 out of the 22 registered pension firms across the country posted positive year to date RoI in contrast to the December 2020 month-on-month RoI, which saw half of the applicable Fund 1 RoI on the positive edge and the other half in the red with Trustfund emerging at the top at 20.15 percent and APT Pension down the thread at -20.74 per cent.
Meanwhile, Fund 1 has the highest exposure to stock among the funds under the Multi fund Structure as it is an optional fund that RSA holders below 50 years old can request to be moved to while Fund II is the default for active contributors who are 50 years and below and fund III is for those above 50 years.
Similarly, while Fund IV is designed for retirees only, fund VI focuses on micro pension fund for the informal sector that employers or organisations with less than three employees might consider.