PenCom approves merger, acquisition of fund administrators

The National Pension Commission (PenCom), has approved the request for the merger and acquisition of some operators in the pension industry.

PenCom disclosed the approval in a post on its Facebook page on Wednesday.

The commission said it approved the acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited. It also approved the subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.

Also approved is the acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited; and the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited.

According to the post, Pencom also approved the subsequent change of name of the merged entity to Tangerine APT Pensions Limited.

The post reads, “This is to inform all stakeholders and the general public that the National Pension Commission (PenCom) has approved the following mergers and acquisitions.”

“The acquisition of Investment One Pension Managers Limited by Guaranty Trust Holding Company Limited and subsequent change of name from Investment One Pension Managers Limited to Guaranty Trust Pension Managers Limited.

“The acquisition of AIICO Pension Managers Limited by FCMB Pensions Limited; and the merger between Tangerine Pensions Limited and APT Pension Funds Managers Limited and subsequent change of name of the merged entity to Tangerine APT Pensions Limited.”