By VICTOR AHIUMA-YOUNG

TRUSTFUND Pensions Plc has announced a gross earning of N2.120 billion in its 2011 financial year.

At it’s Annual General Meeting AGM, in Abuja, the Federal Capital Territory, FCT, chairman of Trustfund Pensions, Dr. Ngozi Olejeme, told shareholders, customers and other guests that this was a 22.2 percent increase against N1.735 billion recorded in the preceding year.

According to her “As is our custom, we remain unalloyed in setting the pace in compliance with statutory and regulatory requirements. The performance of our company demonstrates that we are determined to live to our word of creating wealth for all stakeholders, be they our customers, employees, shareholders and other interested parties. Some of the pertinent performance indices that deserve our attention include: Our gross earnings grew from N1.735billion in 2010 to N2.120 billion in 2011, representing 22.2 percent increase over the previous year.

This is a demonstration of our vibrant investment approach while remaining conservative. Our company recorded a modest profit after tax of N353 million in 2011 representing a 64.2 percent increase over the N215 million in 2010. We must acknowledge the level of cost control and cost reduction approach adopted by the management team and efficient resource utilization which we hope will be sustained.”

”It is our earnest desire to continually create wealth for our shareholders. This is demonstrated in the value added to our shareholders’ fund from N1.773 billion in 2010 to N1.994 billion in 2011, representing over 12 percent increase. We would continue to put up efforts to guarantee wealth creation for our shareholders.

We aspire to be leaders in fund management and this is demonstrated in the performance of our Fund Under Management, FUM. There was an increase of about 20 percent of our FUM from N116 billion in 2010 to N139 billion in 2011.