UK overtakes Japan as world’s second-largest pensions market

first_imgUK3,263 US18,878 South Africa236 Ireland130 The UK has overtaken Japan to become the world’s second-largest pensions market, according to a study by Towers Watson that placed the country’s pension assets at more than £2trn (€2.4trn).The consultancy’s Global Pension Asset Study noted that, over a 10-year period, the UK saw pension assets increase to account for 131% of GDP, up by more than 60 percentage points since 2003.However, for nearly five of those years, UK growth was sluggish.Ranking the 13 largest pension markets by assets under management in US dollars, the UK was a distant second with $3.2trn (€2.4trn) compared with more than $18trn held by US funds. Australia1,565 Japan3,236 Germany509 Canada1,451center_img France169 Hong Kong114 Netherlands1,359 The volume of assets held by German, French and Irish pension funds remained largely unchanged compared with 2012, while Switzerland saw its size – again when denominated in dollars – increase by $50bn to $786bn.Chris Ford, Towers Watson’s EMEA head of investment, credited equities with the growth enjoyed by a number of the pension markets, saying shares enjoyed the best year of risk-adjusted return since the financial crisis.“Generally,” he added, “pension funds are now implementing investment strategies that are more flexible and adaptable and contain a broader view of risk so as to make greater allowance for the sort of extreme economic and market volatility they have experienced during the past five years.“This is welcome, as the global economic recovery – and the implied normalisation of market conditions – is by no means guaranteed.” Brazil284 Japan fell to third place, less than $30bn behind the UK.However, while the country’s assets denominated in US dollars declined by nearly $500bn compared with 2012, the market’s value as a share of GDP rose by 3 percentage points to 65%.The consultancy also noted that the survey covered a period during which the yen depreciated by 18.4% against the dollar.Australia ranked as the fourth-largest pension market, ahead of Canada and the Netherlands.However, the European country remained the largest pension market in the ranking when compared with GDP, accounting for 170% against just 80% in Canada and 105% in Australia.Size of pension markets in December 2013CountryAssets in $bn Switzerland786last_img read more

Leicester linked with Porto striker Marega

first_img They need a total of 100 million euros to meet FFP regulations, not to mention any signings they want to make. And it appears the 28-year-old has a clause that would allow clubs to sign him for 30 million. Read Also:Iheanacho’s coach raises alarm, says Leicester players showing signs of coronavirus Leicester have a long term interest in the player, while West Ham United are also circling. FacebookTwitterWhatsAppEmail分享 Loading… Leicester City are being linked with a move for Porto star Moussa Marega. Promoted ContentWorld’s Most Delicious FoodsYou’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeThe Best Cars Of All TimeTop 7 Best Car Manufacturers Of All Time10 Risky Jobs Some Women Do9 Actors Who Stay Famous For That One Movie They Did 10 Years Ago8 Superfoods For Growing Hair Back And Stimulating Its GrowthWho’s The Best Car Manufacturer Of All Time?Best & Worst Celebrity Endorsed Games Ever Made5 Of The World’s Most Unique Theme Parks5 Of The World’s Most Unique Theme ParksThis Guy Photoshopped Himself Into Celeb Pics And It’s Hysterical The Malian has scored nine goals in 33 games this season, but he may have fallen out with the club. A Bola in Portugal suggests that Porto need money, and they want to sell Marega in the summer to fund their own spending.Advertisementlast_img read more