EOBI portfolio swells to Rs691.91bn as fixed-income assets drive returns-INP

ByAmeliaApril 18, 20262 Mins read10

By Moaaz Manzoor

The Employees’ Old-Age Benefits Institution’s (EOBI) investment portfolio reached Rs691.91 billion by February 28, 2026, with fixed-income instruments continuing to dominate the fund’s asset mix and income generation, according to documents available with Wealth Pakistan.

The EOBI remains heavily invested in fixed-income assets, which account for Rs592.12 billion, or 85.58%, of the total portfolio. Within this category, the Pakistan Investment Bonds (PIBs) form the backbone of the portfolio at Rs540.35 billion, while accrued profit on PIBs stands at Rs49.61 billion and corporate fixed income at Rs2.16 billion.

The concentration underscores the EOBI’s preference for relatively safer and more predictable income streams, as it manages funds meant to support pension liabilities. Equity exposure remains limited in comparison. The documents show that available-for-sale equity amounts to Rs26.38 billion, while held-for-trading (equity) stands at Rs14.86 billion, taking total equity holdings to Rs41.24 billion, or 5.96% of the overall portfolio.

Real estate forms the third component of the investment base. According to the documents, real estate properties are valued at Rs42.36 billion, while real estate projects account for Rs16.20 billion, bringing total real estate exposure to Rs58.55 billion, equal to 8.46% of the portfolio.

The documents also illustrate how these assets are translating into income. For FY2025-26, the EOBI’s total investment income is budgeted at Rs78,889 million, or Rs78.89 billion. For the period from July 2025 to February 2026, the actual investment income stood at Rs56,453 million, or about Rs56.45 billion, against a budgeted figure of Rs52,593 million for the same period.

Most of that income came from fixed-income investments. The documents show that fixed income generated Rs47,151 million during July 2025-February 2026, compared to a budgeted Rs45,391 million.

Equity also contributed meaningfully, with dividend income on shares at Rs4,788 million and capital gain on shares at Rs3,751 million, taking total equity income for the period to Rs8,539 million.
Real estate produced a smaller but steady stream of income. The documents record rental income at Rs764 million for July 2025-February 2026, matching the budgeted figure for the period.

A separate receipts and expenditures statement included in the documents shows that the total receipts during July 2025-January 2026 stood at Rs96,681.04 million, compared with budget estimates of Rs99,002.23 million. Of this, contribution revenues amounted to Rs48,612.54 million, while investment income stood at Rs48,068.50 million, indicating that returns from investments are now contributing almost as much as regular contributions.

On the expenditure side, the total expenditures for the period came to Rs44,622.67 million, with pension disbursement alone accounting for Rs42,010.00 million. The management expenses as a percentage of receipts stood at 1.40%, lower than the budgeted 2.22%.

As a result, the EOBI’s financial sustainability is driven primarily by fixed-income investments, which continue to generate the bulk of returns and underpin pension payments, while equity and real estate remain supplementary contributors.