Kenya’s Biggest Pension Fund's Assets Rise 13% to $2.14 Billion

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(Bloomberg) -- Kenya’s National Social Security Fund’s net assets rose to 221.7 billion shillings ($2.14 billion) in the 12 months through June 2018, compared with a restated 196.6 billion shillings a year earlier, the agency said.

Contributions into Kenya’s biggest pension fund grew to 14 billion shillings from a restated 13.5 billion shillings a year earlier, NSSF said in a statement published in Nairobi-based Daily Nation newspaper. Trustees approved interest payment of 7% on the contributions, it said.

Investment income climbed almost 23% to 17.3 billion shillings, while it held 89 billion shillings in government securities and 65.4 billion shillings in publicly traded shares, it said.

©2019 Bloomberg L.P.

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