Global pension assets hit $32 trln, Aussies, Canadians drive growth in alternatives

The assets of pension funds in the world's 13 major markets grew by 9.5% in 2013, reaching a record high of almost US$32 trillion, reports Towers Watson's annual Global Pension Assets Study. U.S. pension fund assets also reflected a new record at US$18.9 trillion, which is up 12%. Towers Watson said the growth is the continuation of a trend that started in 2009. The study also found that pension funds in most countries have increased their exposure to alternative assets over the past decade. This trend has been led in Australia (from 8% of total allocations to 25%) and Canada (from 8% of total allocations to 21%).

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