FUND MANAGEMENT
Fund performance is measured and reported daily to management on a post-trade basis. Asset valuation and pricing of positions and the analysis of investment returns are done daily on an accrual and marked-to-market basis. Also, performance attribution is done on a daily, weekly, or monthly basis and classified by sector, industrial grouping, and market. Furthermore, online real-time reports are available through the management dashboards.
Internally derived and public benchmarks are used to appraise the performance of the Fund by security, sector, industrial grouping, and market.
Statistical analysis on the investments; and comparison with specific benchmark portfolios e.g. the Nigerian All-Share Index are conducted. Performance attribution analysis and risk-adjusted-performance measurement are carried out. Performance attribution is analyzed to ascertain the over/underperformance of funds and individual portfolio and investment managers. This process enhances the understanding of the value added by the portfolio and investment managers. This is done relative to the risk of the investment to enable the Board and Management to determine what risks the manager is taking and compare actual return versus the risk taken by the manager.
Portfolio Structure
Our fund portfolio is structured to guarantee maximum returns on all our investments while ensuring compliance with the PenCom benchmark.
FUNDS INVESTMENT MANAGEMENT: 16th - 22nd October 2025
| Date | FUND I | FUND II | FUND III | FUND IV |
|---|---|---|---|---|
| Wednesday, 22 October 2025 | 3.4370 | 4.5947 | 2.9842 | 3.2992 |
| Tuesday, 21 October 2025 | 3.4356 | 4.5919 | 2.9833 | 3.2981 |
| Monday, 20 October 2025 | 3.3933 | 4.5462 | 2.9596 | 3.2752 |
| Sunday, 19 October 2025 | 3.3882 | 4.5337 | 2.9525 | 3.2704 |
| Saturday, 18 October 2025 | 3.3876 | 4.5328 | 2.9517 | 3.2693 |
| Friday, 17 October 2025 | 3.3869 | 4.5319 | 2.9509 | 3.2681 |
| Thursday, 16 October 2025 | 3.3664 | 4.5096 | 2.9444 | 3.2601 |
FUND I - PORTFOLIO STRUCTURE
| Date | Cash Balance | Corporate Bonds | Ordinary Shares | FGN Bonds | Money Markets | Treasury Bills | Hybrid Funds Value | Commercial Papers | Total |
|---|---|---|---|---|---|---|---|---|---|
| Wednesday, 22 October 2025 | 1.78% | 6.92% | 33.63% | 22.55% | 20.89% | 4.92% | 7.57% | 1.75% | 100.00% |
| Tuesday, 21 October 2025 | 1.39% | 6.92% | 33.62% | 22.56% | 21.28% | 4.92% | 7.57% | 1.75% | 100.00% |
| Monday, 20 October 2025 | 1.40% | 7.00% | 32.82% | 22.83% | 21.54% | 4.98% | 7.67% | 1.77% | 100.00% |
| Sunday, 19 October 2025 | 1.03% | 7.08% | 32.74% | 22.85% | 21.87% | 4.98% | 7.68% | 1.77% | 100.00% |
| Saturday, 18 October 2025 | 1.03% | 7.08% | 32.75% | 22.85% | 21.86% | 4.98% | 7.68% | 1.77% | 100.00% |
| Friday, 17 October 2025 | 1.03% | 7.08% | 32.76% | 22.85% | 21.85% | 4.98% | 7.68% | 1.77% | 100.00% |
| Thursday, 16 October 2025 | 2.98% | 7.12% | 32.37% | 22.98% | 20.04% | 5.01% | 7.73% | 1.78% | 100.00% |
FUND II - PORTFOLIO STRUCTURE
| Date | Cash Balance | Corporate Bonds | Ordinary Shares | FGN Bonds | Money Markets | Treasury Bills | Hybrid Funds Value | Commercial Papers | Total |
|---|---|---|---|---|---|---|---|---|---|
| Wednesday, 22 October 2025 | 1.81% | 6.49% | 31.76% | 34.25% | 16.23% | 2.06% | 7.07% | 0.32% | 100.00% |
| Tuesday, 21 October 2025 | 1.67% | 6.49% | 31.72% | 34.24% | 16.43% | 2.06% | 7.07% | 0.32% | 100.00% |
| Monday, 20 October 2025 | 1.39% | 6.55% | 31.06% | 34.57% | 16.87% | 2.08% | 7.14% | 0.33% | 100.00% |
| Sunday, 19 October 2025 | 0.10% | 6.58% | 30.92% | 34.65% | 18.18% | 2.08% | 7.16% | 0.33% | 100.00% |
| Saturday, 18 October 2025 | 0.10% | 6.58% | 30.93% | 34.65% | 18.18% | 2.08% | 7.16% | 0.33% | 100.00% |
| Friday, 17 October 2025 | 0.04% | 6.58% | 30.93% | 34.70% | 18.17% | 2.08% | 7.17% | 0.33% | 100.00% |
| Thursday, 16 October 2025 | 0.33% | 6.61% | 30.61% | 34.87% | 18.02% | 2.03% | 7.20% | 0.33% | 100.00% |
FUND III - PORTFOLIO STRUCTURE
| Date | Cash Balance | Corporate Bonds | Ordinary Shares | FGN Bonds | Money Markets | Treasury Bills | Hybrid Funds Value | Commercial Papers | Total |
|---|---|---|---|---|---|---|---|---|---|
| Wednesday, 22 October 2025 | 1.45% | 7.59% | 24.85% | 42.35% | 18.26% | 4.42% | 0.93% | 0.15% | 100.00% |
| Tuesday, 21 October 2025 | 0.53% | 7.61% | 24.92% | 42.45% | 18.99% | 4.43% | 0.93% | 0.15% | 100.00% |
| Monday, 20 October 2025 | 0.37% | 7.67% | 24.34% | 42.78% | 19.29% | 4.46% | 0.94% | 0.15% | 100.00% |
| Sunday, 19 October 2025 | 0.76% | 7.64% | 24.18% | 42.56% | 19.34% | 4.43% | 0.93% | 0.15% | 100.00% |
| Saturday, 18 October 2025 | 0.76% | 7.64% | 24.19% | 42.56% | 19.34% | 4.43% | 0.93% | 0.15% | 100.00% |
| Friday, 17 October 2025 | 0.61% | 7.64% | 24.20% | 42.70% | 19.33% | 4.43% | 0.93% | 0.15% | 100.00% |
| Thursday, 16 October 2025 | 1.17% | 7.65% | 23.89% | 42.97% | 18.79% | 4.44% | 0.94% | 0.15% | 100.00% |
FUND IV - PORTFOLIO STRUCTURE
| Date | Cash Balance | Corporate Bonds | Ordinary Shares | FGN Bonds | Money Markets | Treasury Bills | Hybrid Funds Value | Commercial Papers | Total |
|---|---|---|---|---|---|---|---|---|---|
| Wednesday, 22 October 2025 | 3.23% | 7.44% | 10.91% | 42.94% | 21.94% | 9.34% | 1.74% | 2.46% | 100.00% |
| Tuesday, 21 October 2025 | 3.04% | 7.44% | 10.91% | 42.92% | 22.17% | 9.33% | 1.74% | 2.46% | 100.00% |
| Monday, 20 October 2025 | 3.14% | 7.48% | 10.31% | 43.17% | 22.29% | 9.38% | 1.75% | 2.47% | 100.00% |
| Sunday, 19 October 2025 | 1.25% | 7.63% | 10.51% | 43.99% | 22.76% | 9.56% | 1.78% | 2.52% | 100.00% |
| Saturday, 18 October 2025 | 1.25% | 7.63% | 10.51% | 43.99% | 22.75% | 9.56% | 1.78% | 2.52% | 100.00% |
| Friday, 17 October 2025 | 1.25% | 7.63% | 10.52% | 44.00% | 22.75% | 9.56% | 1.79% | 2.51% | 100.00% |
| Thursday, 16 October 2025 | 3.97% | 7.64% | 10.21% | 44.17% | 21.22% | 8.49% | 1.79% | 2.52% | 100.00% |
FUND PERFORMANCE RECORD AS AT JULY 2025
| Fund | Fund I | Fund II | Fund III | Fund IV |
|---|---|---|---|---|
| 3-YEAR ANNUAL RETURN | 30.11% | 24.67% | 22.81% | 17.09% |
| SHARPE RATIO | 0.3025 | 0.2080 | 0.1777 | -0.0938 |
NPF Pensions House Plot 3820,
R.B. Dikko Road, Off Shehu Shagari Way
Central Business District (CBD)
Abuja – Nigeria.