FUG Pensions Targets N500bn Assets under Management

Future Unity Glanvills Pensions Limited (FUG Pensions), said it is targeting N500billion pension Assets under Management (AuM) in its medium term strategic plans.

The firm’s current assets under management have grown from zero position in 2007 to over N57billion in 2017.

This was disclosed by the Managing Director and Chief Executive Officer of the company, Mr. Usman Suleiman during the firm’s 10th anniversary celebration held at its Head Office in Lagos recently.

Suleiman said the management of the company considers the goal achievable given its initial sterling performance powered by hard work, resilience and perseverance,

According to him, the company has put in place both short, medium and long term strategic plans that would see it grow its portfolio in Assets under Management to N120billion by 2019 and N500billion within the next seven years of its medium term operation.

To drive its expansion programme, Suleiman added that the firm’s management has commenced discussion with some pension funds administrators with a view to acquiring one to actualise the expansion plans.

He said the last 10 years of the firm’s operation, was challenging given the fact that the company came into the market as one of the late entrants.

He however, said with resilience, zeal, perseverance and hard work on the part of members of staff, in addition to the confidence and support of the board and shareholders, FUG Pensions has risen to the occasion as one of the notable pension funds administrators (PFAs) in the marketplace.

“Ten years of resilience, yes it has really been a tough journey but we give glory to God for seeing us through it. It has been a lot of sacrifice, patience, hard work and perseverance but of course, the end result of those attributes, is success and that is what we are seeing today. We started from nothing to what we are today, over N57billion in asset under management”.