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%.
Johnson Controls International has appointed XPS Pensions as investment and actuarial adviser for two of its schemes, following a competitive tender process.
Merseyside Pension Fund has allocated an initial £400m of assets to a smart sustainability fund managed by State Street Global Advisors (SSGA).
This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.
Buck has launched a solution to help pension schemes equalise guaranteed minimum pensions (GMPs) in a cost effective way with minimum hassle.