AUSTRALASIA - The median Australian superannuation growth fund was up 20.4% in the year ending February while the New Zealand Superannuation fund was up 17.4% from the start of its fiscal year in July.
In February alone, the median Australian growth fund returned 0.9%, mainly because of a 2% surge in Australian equities, according to data by Chant West. International equities also helped with unhedged returns of 0.6%, while Australian and global real estate investment trusts were up 1.4% and 3.3% respectively.
Growth funds a invest 61% to 80% in growth assets and are the default fund for most superannuation fund members.
Meanwhile, the NZ$15.9bn (US$11.4bn) New Zealand Superannuation Fund said it returned 1.88% in February and 6.04% since inception in September 2003.
The fund invests 43% in international equity, 16.7% in international fixed income, 7.5% in timber, 7.3% in global listed property, 7% in domestic equity, 6.5% in infrastructure and 5.3% in commodities.
It also invests 3.5% in emerging markets, 1.7% in New Zealand property, 1.2% each in private equity and domestic debt, and the rest in other private markets.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.