September 25, 2017

IEI-Anchor Pensions records 23% growth in AuM

A cross section of pensioners( Note this image is used to demonstrate the story

IEI-Anchor Pension Managers Limited said it witnessed a 23.4 per cent growth in Assets under Management (AuM) moving from N47 billion in 2015 to N58 billion in 2016.

Managing Director of the company, Mr. Glory Etaduovie, disclosed this at the firm’s Annual General Meeting (AGM) in Abuja, noting that the gross revenue grew by 21 per cent, from N451 million to N544 million for the year under review.

He said the firm returned to the path of profit from the previous loss position of N17 million after tax to a profit after tax position of N81 million, stressing that this represents a massive leap and that earnings per share rose to 37k from negative 8k position in 2015.

The company, he said also recorded a 20 per cent growth in Retirement Saving Account (RSA) PIN generation, which moved from 8,000 to 10,000.

“Our RSA unit price grew from 1.7706 to 1.9411(year on year), while our retiree unit prices also grew from 2.0079 to 2.2331(year on year). As at June 2017, we have moved to 2.0727 for the RSA and 2.3939 for the retiree funds respectively,” he said.

Etaduovie maintained that the firm’s customer satisfaction has been on the rise, adding, “This is to ensure that the transfer window does not hurt the organisation, but repositions it to attract more clients. Consequently, everyone is a customer service personnel – it is an attitude thing. We have also deployed the IVR, which is enhanced customer service software, amongst other benefits,” he said.

According to him, the company’s goal is to establish a new order where, at the mention of its corporate name, people, clients, all stakeholders will feel a sense of peace. To achieve this, he said the firm’s concentration has been on driving quality staffing and motivation; strong ICT infrastructure; strong customer service culture and constant processes review.

The Chairman, Senator Jonathan Zwingina, said despite the economic state of the nation, the company had to grapple with an increase in operational costs, but was able to deliver on its main goal; which was to satisfy its customers and make profit in 2016.