- Equity limits for pension funds increased
- Up to $1.6bn may flow into stocks
ABUJA, NIGERIA – Nigerian stocks are climbing after regulators raised pension fund investment limits for equities, a move analysts say could channel more than 50% additional funds into the market.
The rally followed a review by Nigeria’s Pension Commission (PenCom), which increased the maximum allocation to equities for Retirement Savings Account (RSA) Funds I, II, III and VI-active to 35%, 33%, 15% and 33%, from 30%, 25%, 10% and 25%, respectively.
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