US - Total assets under management at the country's largest 100 state and local pension plans increased by 19% over the year ended March 31, according to data by the US Census Bureau.
Total assets reached US$2.5trn, up from $2.1trn a year earlier. Meanwhile, assets were up 1.7% from the fourth quarter of 2009, marking a fourth consecutive quarter of gains.
Holdings in international securities increased the most with a 60% jump. These pension schemes invested $429.4bn in international securities as of March 2010, up from $268.7bn a year earlier.
The Bureau data does not say whether this was a shift in asset allocation or merely a result of market gains. During the same time period, the MSCI World Index was up nearly 50%.
Corporate stocks increased 27.1% over the year totalling $834.7bn by end of March, corporate bonds increased 10.5% totalling $420bn and federal government securities rose 10.3% to $163bn.
The Census Bureau data is based on the assets of the largest 100 schemes as reported to the Bureau in 2007. Combined, these pension funds comprise 89.4% of the financial activity of all state and local plans in the US.
Pension freedoms could generate as much as £1.9bn a year in tax revenue for the next 10 years, according to research by the Pensions Policy Institute (PPI).
The Pension Protection Fund (PPF) has conceded it does not have "all the data we need to calculate" the impact of last month's ruling that some benefits may be unlawful.
A looming court decision on gender equalisation of pension schemes could hit FTSE 100 profits by up to £15bn, Lane Clark and Peacock (LCP) says.
Dutch custodian KAS Bank has created a fintech solution to help schemes save on costs and improve transparency of currency hedging strategies.