IEI-Anchor Pensions grows AuM by over 18%

IEI-Anchor Pensions grows AuM by over 18%

Kano Pension Fund begins verification exercise on Monday

By Rosemary Onuoha

INSURANCE

IEI-Anchor Pension Managers Limited said that it’s Asset under Management (AuM) rose by 18.6 percent to N109 billion in the 2019 financial year, from N92.9 billion in 2018 financial year.

The Pension Fund Administrator (PFA) said it equally generated 7,965 Retirement Savings Accounts (RSAs) Personal Identification Numbers (PINs) in 2019.

Addressing shareholders at the company’s 2019 annual general meeting held virtually, the Chairman, Senator Rufai Hanga, said that he is optimistic that the coming year will usher in new vistas for further growth of IEI-Anchor Pension Managers Limited, adding that, the company is gearing towards leveraging on the exercise to increase its AuM while exerting no lesser effort to maintain its existing clients.

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Hanga said: “The industry ratings on our funds have also risen. Out of the 22 PFAs, we were the 8th in ranking on RSA Fund I, 2nd in Fund II, 18th in Fund III and 16th in Fund IV, this was as at July,2020. This portends a continuous improvement for the company. I am by this appreciating our management team and urging them to maintain this momentum. We are also expanding our projections to increase our client base.”

Meanwhile, reviewing activities of the 2019 financial year, Managing Director of the company, Mr. Glory Etaduovie, said that in the next four years, the company would have doubled its worth and value in terms of assets under management, size of revenue income, market relevance and acceptability, staff size, job security, efficiency and productivity as well as highly improved industry reputation.

Etaduovie said: “Information Technology department holds a strategic place in the heart of most organisations today. It is no less so in the pension industry. Our last year’s theme was ‘Inclusion and digitalization’.

The post IEI-Anchor Pensions grows AuM by over 18% appeared first on Vanguard News.

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