NEW ZEALAND - The New Zealand Superannuation Fund returned 4.42% in December 2010, up from -0.38% in the previous month, due to an increase in global equities.
The fund's assets increased to NZ$18.21bn ($14.12bn) at the end of the year, from NZ$17.43bn at the end of November.
Returns have fluctuated since July's 4.76%, declining to -1.37% in August, increasing to 6.11% in September and decreasing again to 2.66% in October.
Earnings for the fiscal year starting June 2010 stood at 17.08%.
Strong global equity market was the main cause of the fund's growth which allocated NZ$10.94bn or 60.1% to the asset class in December. It allocated 10.4% to fixed income, 5.2% to domestic equity, 5.7% to property, 7.9% to infrastructure, 6.6% to timber, 2.4% to other private markets, 1.2% to private equity and 0.5% cash, collateral and foreign exchange hedges.
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.