NSE Introduces Pension 40 Index

The Nigerian Stock Exchange has announced the creation of a Pension 40 Index as part of key initiatives to drive market optimization.

A statement by the bourse says assured that the NSE Pension Index conforms with the requirements of the Pension industry as specified in the Pension Reform Act 2014 (as amended).

It also conforms with the Regulation on Investment of Pension Fund Assets as prepared and amended by the National Pension Commission.

According to the NSE, the new index provides tracking mechanism for Pension Fund Administrators, Fund Managers and others that Invest in accordance with the PENCOM guidelines.

The Executive Director, Business Development, NSE, Mr. Haruna Jalo-Waziri, says the Pension Index will provide investors with additional tool to make the most of Nigeria's market.

The NSE Pension Index will have the top 40 companies based on market capitalisation and liquidity.