IEI Anchor PFA Grows Assets

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IEI Anchor Pension Managers said it has grown Pension Fund Assets under its management by 35 per cent, from N68.2 billion in 2017, to N92 billion in 2018.

Speaking at the 2018 Annual General Meeting(AGM) of the company in Abuja recently, the company’s Chairman, Senator Jonathan Zwingina, said, it maintained its growth trajectory, as its Retirement Savings Accounts also grew from 117,031 in 2017 to 131,047 in 2018.
Operations of the company, he added, ran smoothly, thereby, leading to a general growth in the company.

According to him, “Our Assets Under Management with a 34.96 percent increase from N68, 231, 022, 724 Billion to N92, 081, 663, 564 Billion between January 2018 and December 2018. Operations of the company ran smoothly thereby leading to a general growth in the company.” He, however, said Retirement Savings Accounts of the PFA, grew from 117,031 in 2017 to 131,047 in 2018.”

“The management of the PFA is committed to ensuring that strategies put in place are driven to continually grow the company, we will continue to engage our customers constantly and ensure their satisfaction as well as working tirelessly on delivering to our shareholders and stakeholders,” he added.

Also, the Managing Director of the company, Mr. Glory Etaduovie, said its fees earned increased from N661million in 2017 to N774million in 2018, representing a 17 percentage growth.

To him, “RSA Fund Unit price (now Fund II) grew from N2.21 in 2017 to N2.42 billion in 2018, a growth of 9.62 per cent as Retiree Fund Unit price (now Fund IV) grew to N2.85 billion, a growth of 11.44percent during the year under review.”
“Profit after Tax, he said, increased from N1.4million in 2017 to N34.01 million – a growth of 2329 per cent in 2018.”