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Nigeria SWF Underperforms Global Peers As Total Income Down 8% In 2021 by moneycentral20: 2:04pm On May 23, 2022 |
Nigeria’s sovereign wealth fund (SWF) under performed global peers in 2021 as its total comprehensive income fell by 8% to N146.9 billion, despite it being a year of rally in global equities, leading to outperformance by other SWFs. Total comprehensive income for the Nigeria Sovereign Investment Authority or NSIA which manages Nigeria’s SWF was affected by a slide in interest income, gains on financial assets and net foreign exchange gains, compared to the year ago period, data seen by MoneyCentral shows. An increase in costs such as investment management and custodian fees as well as depreciation and amortization costs also affected the bottom-line. By comparison, Norway’s SWF returned 14.5% in 2021, driven by positive equity and real estate returns, Norges Bank said in March. Read more: https://moneycentral.com.ng/markets/article/nigeria-swf-underperforms-global-peers-as-total-income-down-8-in-2021/ 1 Like |
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