All time high for pension assets

Pension fund assets in the world’s 13 major markets hit a record high of $26 trillion (£16 trillion) last year, it was revealed yesterday. Assets grew by 12 per cent in 2010, after a 17 per cent rise in 2009. The uptick comes after the downturn in 2008 when assets dropped by 21 per cent, according to the consultancy Towers Watson. Global pension assets now amount to 76 per cent of global GDP, substantially higher than the 2008 level of 61 per cent.