AUSTRALIA - AustralianSuper has increased its assets under management by 20% (A$5bn) to A$25bn in the 8 months since its inception.
The fund, a merger between Superannuation Trust of Australia and Australian Retirement Fund on July 1 2006, said 60% its growth was achieved through increased investment returns, with the remainder made up of employer and member contributions.
Chief Executive Ian Silk said new employers joining the fund had shown significant growth with increases between 28% and 36% each month compared to the same month in the previous year.
“New members joining the fund has shown steady growth every month compared to the same month in the previous year. In addition member contributions to the fund have increased every month compared to the same month the year previous,” said Silk.
“In some instances the increase has been over 100%.”
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.