Tujoromajo Kasuto
Namfisa Quarterly Statistical Report says that the value of retirement fund assets decreased during the third quarter of 2022 on both a quarterly and annual basis.
The authority notes that the quarterly decline in investments is mostly reflected in the negative performances in equity and debt markets due to inflationary and interest rate pressure.
Additionally, the report reveals that the geographical allocation of investments also changed during the quarter.
“Investments held in the CMA and Africa regions decreased to 19.5 percent and the industry’s domestic investment holdings decreased to 50.6 percent and remained in line with the 45.0 percent minimum domestic asset requirement,” it reads.
Meanwhile, total investment assets the amount of total retirement fund investments (including insurance policies) decreased by 0.7 percent quarter-on-quarter and by 1.0 percent year-on-year to N$199.3 billion during the review period.
“Investments held in insurance policies amounted to 11.6 percent of the industry’s total investments. Investments held directly by retirement funds decreased by 0.2 percent quarter-on-quarter and by 1.4 percent year-on-year to N$176.2 billion during the quarter ended on 30 September 2022. Insurance policies held by the industry decreased by 0.5 percent quarter-on-quarter, but increased by 2.4 percent year-on-year to N$23.1 billion during the quarter under review, “ the notes. The report attributes the quarterly decline in investment values as a result of losses in the value of investments due to negative market performances.
“The value of retirement fund assets decreased during the third quarter of 2022 on both a quarterly and annual basis. The quarterly decline in investments is mostly reflected in the negative performances in equity and debt markets due to inflationary and interest rate pressure.
The geographical allocation of investments also changed during the quarter. Investments held in the CMA and Africa regions decreased to 19.5 percent and the industry’s domestic investment holdings decreased to 50.6 percent and remained in line with the 45.0 percent minimum domestic asset requirement,”it reads.
The amount of total retirement fund investments (including insurance policies) decreased by 0.7 percent quarter-on-quarter and by 1.0 percent yearon-year to N$199.3 billion during the review period. Investments held in insurance policies amounted to 11.6 percent of the industry’s total investments.
“Investments held directly by retirement funds decreased by 0.2 percent quarter-on-quarter and by 1.4 percent year-on-year to N$176.2 billion during the quarter ended 30 September 2022. Insurance policies held by the industry decreased by 0.5 percent quarter-on-quarter, but increased by 2.4 percent yearon-year to N$23.1 billion during the quarter under review. The quarterly decline in investment values were as a result of losses in the value of investments due to negative market performances,” the report said.
