
By Alex C
ARM Pensions Limited, one of the leading Pension Fund Administrators (PFAs), has grown its funds by 28 percent to N340 billion in the 10 months period ending December 2013. The company also experienced growth in its subscriber base now totalling 539,075 individual account holders.
This development was made known by the board and management at ninth annual general meeting held in Lagos recently.
Over the 10-month period, ARM Pensions’ gross revenue grew by 16 percent to N3.3 billion. Similarly, when compared with February 2013, profit before tax (PBT) and profit after tax (PAT) grew by 37 percent and 27 percent to N1.9 billion and N1.3 billion, respectively.
Sadiq Mohammed, managing director of the company, said the company had changed its financial year end from February to December in line with the National Pension Commission’s (PenCom’s) directive of a uniform financial year-end for the PFAs.
Mohammed said that on a comparative basis, over a 12-month period (January – December 2013), ARM Pensions’ fund under management grew by 37 percent, whilst revenue appreciated by 43 percent, and profit before tax for the same period went up by 86 percent.
ARM Pension Managers (PFA) Limited was among the first seven PFAs licensed by the National Pension Commission in 2005.
A subsidiary of Asset and Resource Management Company Limited (ARM), a leading reputable investment management firm with a very successful track record of protecting and growing investments for private investors and institutions for over a decade, the pension firms is committed to creating value for its contributors and retirees.
“At ARM Pensions, we appreciate the desire of every employee to maintain a comfortable standard of living after their active working life, according to the managing director. Therefore, we have built our core tenets around the preservation of, and superior returns on, pension assets and investments, as well as prompt and efficient benefit administration. This also reflects its overall investment philosophy, which is aimed at delivering consistent long-term growth through value investing and rigourous risk management,” Mohammed added.