Return levels fell from 7% in 2006 to 3% last year and an average return of 13% in the three previous years as global equity markets suffered from the fallout of the US sub-prime mortgage crisis. Meanwhile, the total value of pension assets managed globally reached a $26trn (£13trn) high in 2006 after rising 14% thanks to strong equity market growth, says Duncan Mackenzie, director of economics at IFSL.
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