By Dipo Olowookere
One of the leading Pension Fund Administrators (PFA) in Nigeria, Crusader Sterling Pensions Limited, has been assigned a Pension Fund Manager rating of ‘A(PFM)’ by Agusto & Co, Nigeria’s pioneer credit rating agency.
A statement issued by the rating firm explained that the ‘A(PFM)’ rating “indicates a pension fund administrator considered to have GOOD investment, pension administration and risk management capabilities.”
“The scope of the rating is limited to the investment, pension administration and risk management functions of Crusader Sterling Pensions Limited.
“The opinions expressed in this rating release do not represent investment or other advice and should therefore not be construed as such. Visit www.agusto.com for further information,” Agusto & Co said further.
It was noted that Crusader Sterling’s investment risk management processes are broadly in line with PENCOM regulations, which the rating agency said was adequate for the risk profile of pension investments.
“The PFA’s benefits and contributions units are supported by an adequately staffed customer care unit with high quality systems and processes,” it disclosed.
Commenting, Crusader Sterling Pensions Ltd said in a statement that it welcomes the rating being the first of its kind in the local pension industry universe.
The rating, according to the company, re-affirms its increasing uniqueness in the pensions industry.
“It is also a reflection of the company’s stability and reputation of being a well-established franchise with strong commitment to delivery of superior value to stakeholders and excellent service to customers,” the statement said.
Managing Director of the firm, Mr Adeniyi Falade, was quoted in the statement as saying that Crusader Sterling Pensions Ltd was “pleased to join the club of ‘A’ rated Institutions.”
“The rating only goes to confirm our consistency over the years in delivering superior value to our stakeholders and commitment to our core principles of business integrity, professionalism and devotion to excellence in our business operations and customer service delivery,” Mr Falade enthused.
Adedapo Adesanya