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IEI Anchor Pensions grows AUM by 17%

By Rosemary Onuoha

MANAGING Director of IEI Anchor Pensions Limited, Mr. Glory Etaduovie said that the company grew its Assets Under Management (AUM) by 17 percent to N68 billion in 2017 from N58 billion in 2016.

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Etaduovie, who disclosed this at the company’s annual general meeting in Abuja, said that gross revenue increased by 22 percent to N661 million in 2017 against N544 million in 2016.

He said that Retirement Savings Accounts, RSA, generation also increased to 12,394 in 2017 from 10,000 generated in 2016, representing a 24 percent growth.

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While speaking on the operation of the company in the year under review, Etaduovie said: “During the year under review we were able to ensure improved staffing of all major departments and units. Staffing quality was greatly emphasized during the year as staffs  were exposed to various training programs all year round. Staff welfare was also prioritized during the year and several new initiatives were introduced to enhance staff well-being.

“There were various upgrades and additions to our Information and Communication Technology infrastructure, all of which were aimed at protecting our customers, broadening our reach and capacity and increasing the channels of service for our clients. This entailed our organization getting additional security solutions; the addition of more top-notch applications and enhancement of our self-service solutions.

“We maintained our risk sensitivity during the year, as we were exposed to various risks all year round. The risks ranged from business risks, keyman risk and cyber risk, market risks, credit risks etc.

We were fully aware of these risks and various measures that had been put in place by the board and management enabled us to mitigate them or avoid them where necessary. During the year we were largely compliant with our regulator’s regulations and the existing laws of the country.

“Overall, our culture of excellence gained more traction. We are gaining increasing visibility and acceptability with the public and our regulators. The quality of our balance sheet also improved, we have retained our market share and developed our infrastructure to grow it.”


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Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.