IEI-Anchor Pensions Fund Assets Hit N55bn


By Gladys Eze –

The pension fund assets of IEI-Anchor Pensions Limited have grown to N55 billion with a retirement Savings Account (RSA) client size of over 90,000, its Managing Director, Glory Etaduovie, has said.

Etaduovie, who made this known at a briefing in Lagos, said the company, a Pension Fund Administrator (PFA), was set to take its fair share of the N5.7 trillion pension industry backed strongly by its effective and efficient service delivery.

He said the company also focuses on ICT to drive further growth and improvement.

He pointed out that the competition in the pension industry has indeed led to deeper soul searching, noting that the company’s size makes them nimble and smartly responsive.

He said: “The customer remains the ultimate and determinant of direction of any form of competition. Our size makes us nimble and smartly responsive. This is one advantage we wield. Everyone gets deserved attention. This we pursue to achieve through training and retraining of staff. An informed and engaged staff is a real asset.

“We have good presence in many states. The market presently has two major strata – private and public sectors. The public sector includes the states and federal. Not many states have latched on to the Contributory Pension Scheme, though. We are also positioning in areas with strong potentials.

“We have about N55 billion pension assets and our RSA client size is over 90,000. Our growth pace is faster now as we gain more ground. Investment wise, the regulator, the National Pension Commission (PenCom) plays a key role. We have major investment guidelines. This ensures relative fund safety. This is the future of many people so there is no room for unnecessary adventure.

However, the market presents good opportunities and initiatives a good blend of Bonds, Treasury Bills, Money market and other safe investments. Private Equity and Infrastructure development are new areas of gradual action.