Market News
Nigeria's pension fund seeks to diversify with focus on infrastructure - REUTERS
Summary
- Current strategy heavily invested in government debt
- PenCom seeks commercially viable infrastructure investments
- Infrastructure deficit projected to reach $878 billion by 2040
LAGOS, April 11 (Reuters) - Nigeria's pension fund regulator wants to diversify investments with more focus on infrastructure and private equity, a spokesperson said on Friday, a move that could unlock a major new source of capital in Africa's most populous nation.
The voluntary and privately managed Retirement Savings Account held assets of 23.26 trillion naira ($14.58 billion) as of February, with 60% of that invested in government debt and less than 10% in corporate securities.
