Global institutional pension fund assets in the 11 major markets shrank by around 19% during 2008, from US$25 trillion to around US$20 trillion, according to Watson Wyatt’s Global Pension Assets Study. The contraction is in sharp contrast to an average five-year growth rate (to end 2007) of 12% p.a., taking assets back to below 2005 levels. The study also reveals that the global pensions balance sheet (measured by asset values over liability values) deteriorated by around 29% in 2008, reflecting the combined effects of poor performing assets and lower government bond yields.
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