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Nigerian wealth funds record 33.3% asset growth in 2020
Bloomberg
Nigeria Sovereign Investment Authority, Abuja, recorded strong performance in 2020 despite the COVID-19 pandemic, with assets up 33.3%.
The NSIA oversees three individual sovereign wealth funds: the Future Generations Fund, the Nigeria Infrastructure Fund and the Stabilization Fund.
Total assets in the three funds grew 33.3% to 772.8 billion Nigerian naira ($2 billion), while total comprehensive income was 160.1 billion naira, up from 36.2 billion naira in 2019, an update said. The asset allocation strategy for NSIA is 50% in the Nigeria Infrastructure Fund, 30% in the Future Generations Fund and 20% in the Stabilization Fund, a spokesman said.
The growth was achieved despite a $150 million withdrawal from the Stabilization Fund by the Federal Government of Nigeria. The fund performed well, despite low interest rates, the update said. Details on performance were not disclosed.
Nigerian wealth funds record 33.3% assets growth in 2020
Bloomberg
Nigeria Sovereign Investment Authority, Abuja, recorded strong performance in 2020 despite the COVID-19 pandemic, with assets up 33.3%.
The NSIA oversees three individual sovereign wealth funds: the Future Generations Fund, the Nigeria Infrastructure Fund and the Stabilization Fund.
Total assets in the three funds grew 33.3% to 772.8 billion Nigerian naira ($2 billion), while total comprehensive income was 160.1 billion naira, up from 36.2 billion naira in 2019, an update said. The asset allocation strategy for NSIA is 50% in the Nigeria Infrastructure Fund, 30% in the Future Generations Fund and 20% in the Stabilization Fund, a spokesman said.
The growth was achieved despite a $150 million withdrawal from the Stabilization Fund by the Federal Government of Nigeria. The fund performed well, despite low interest rates, the update said. Details on performance were not disclosed.
Dive Brief:
International Flavors & Fragrances published unofficial pro forma results from fiscal year 2020 and videos demonstrating the future growth potential of the company following its $26.2 billion megamerger with DuPont Nutrition & Biosciences division. The deal officially closed Feb. 1.
IFF s Nourish division which includes its ingredients, flavors and food design components brought in the most sales, worth $5.8 billion last year. The Health and Biosciences division is the second largest, with nearly $2.4 billion in sales. Scent brought the combined company about $2.1 billion in revenue last year, while Pharma Solutions had about $839 million.
IFF has been transforming into a force to be reckoned with in the ingredients space following several key acquisitions, including the DuPont division at the beginning of this year and the $7.1 billion purchase of flavors and natural ingredients powerhouse Frutarom in 2018. The new IFF has not yet scheduled its next earnings
Starboard withdraws Elanco board nominations: sources streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.