Nigerian Exchange Limited, NGX , in collaboration with the National Pension Commission (PenCom) collaborated to deepen Pension Fund Administrator, PFAs, participation as 84 equities are currently featured in the NGX Pension Broad Index.
The NGX Pension Broad Index was launched on 15 June 2023, which provides a broader benchmark for equities investment by the pension industry.
The NGX Pension Broad Index has exhibited robust performance since its launch last year. The index stands out for its well-diversified composition, encompassing high-quality stocks across key sectors, including Banking, Insurance, Oil & Gas, Consumer Goods, and Industrial Goods.
Commenting on the performance of the NGX Pension Broad Index, Mr. Jude Chiemeka, Acting CEO of NGX expressed gratitude for PenCom’s insightful partnership, stating, “The collaboration between NGX and PenCom underscores a shared commitment to fostering transparency, compliance, and growth within the Nigerian capital market. I am pleased with the approval granted by the National Pension Commission for the NGX Pension Broad Index (NGXPENBRD) to serve as the benchmark index for Nigeria’s Pension industry equity investment portfolios. This further solidifies the credibility of the index as a reliable yardstick for evaluating the equity performance of pension industry investments.”