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By Benedicte Gravrand, Opalesque London:

Alternative asset managers had on average only 1% less assets to manage for pension funds last year, but Australian FoHFs may have lost out more than that as Superfunds seemed more prone to flee the sector.

According to a recent survey published by consultancy firm Watson Wyatt Worldwide, alternative assets managed on behalf of pension funds by the world’s largest investment managers diminished by around 1% to $817bn in 2008 compared to the year before. The majority (52%) of alternative assets managed on behalf of pension funds are invested in North America, while a third are invested in Europe and 11% in Asia-Pacific. The Australian group Macquarie ranked number one with US$44.4bn invested in infrastructure (details here).

The head of portfolio construction group at Watson Wyatt in Australia, Ross Barry, told Australian newswire Superreview.com.au yesterday that Australian superannuation funds (or Superfunds - national compulsory pension scheme) had decreased their investments in alternatives last year, and that whatever was invested then stemmed from commitments made in the previous years (coverage).

Damien Hatfield, founder of Sydney-based advisory firm Hatfield Advisors (previously known ......................

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