AUSTRAILIA - Superannuation assets have reached the A$1.0trn mark, according to figures released by the Australian Prudential Regulation Authority (APRA).
APRA’s Quarterly Superannuation Performance report showed that total superannuation assets rose during Q4 2006 by 6.9 % to $1.0trn, which represents a 19.2% increase over the year.
The report said that contributions to funds with at least $50m in assets over the quarter were $18.1bn, with employers contributing 62.5% and members 35.3%. The combined return on assets was 5.3% and the return for corporate funds was 5.9%.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.