Pension fund returns improved to an average of 6.4 percent in the year to June 2023 compared to less than one percent a year earlier following the improved performance of equities and offshore assets.
Industry surveys carried out by Actuarial Services East Africa (Actserv) and pension fund administrator Zamara shows that while the weighted average return for equities remained in the red over the period, there was an improvement from the double-digit decline seen in the 12 months to June 2022.
