Trustfund Pension, one of the leading Pension Fund Administrators (PFAs) at the weekend declared profit after tax of N215 million for the year ended? December 31,? 2010, compared to N307 million in 2009.
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Speaking at the Annual General Meeting of the company in Abuja, the Trustfund Managing Director, Mr Bernard Ekwe, who expressed? regret? over the 30 per cent decrease in profit, however said it was not unconnected with a number of strategic expenditures made during the year by the company.
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Bernard Ekwe however said the company demonstrated sound investment strategies as the unit price rose from N1.5928 in 2009 to N1.6975 in 2010.
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The shareholders’ fund he said, grew from N1.63billion in 2009 to N1.77billion in 2010, representing nine per cent increase.
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He said the company also recorded a net increase of 32 per cent in fund under management for the year under review, from N88billion in 2009 to N116billion in 2010 despite the shortfalls recorded in the wake of banks collapse and resultant loss of jobs by many employees.
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