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Laxman Pai, Opalesque Asia:

Global pension assets recorded their largest fall since the Global Financial Crisis of 2008 last year, falling 16.7 percent to USD 47.9trn in 2022, research from the Thinking Ahead Institute (TAI) has revealed.

The latest Global Pensions Assets study, which covered 22 pension markets worldwide, known as the 'P22', found the US pensions market remained the largest globally, followed by Japan, Canada, and the UK.

The Netherlands had the highest ratio of pension assets to GDP at 166 percent, followed by Switzerland at 133 percent, and Canada at 131 percent. China was found to be the fastest-growing pension market, recording a 17.5 percent growth rate in USD terms over the past 10 years, followed by 9 percent for South Korea and 8.2 percent in India.

Uncertainty has been one of the dominant themes in the investment industry in 2022 with heightened geopolitical tension entangled with slower real economic growth, said the study. Inflation rose to its highest level in three decades following extraordinary stimulus measures in response to the pandemic and disruptive geopolitical events.

The steep fall in bond and equity indices over the year has brought pension assets back to levels last seen in 2019. Losses were largest in pension markets that are invested predominantly in long-term fixed-income assets, which declined most in value throughout 2022.

Asset owners have endured a difficult year in 2022 but will be facing even more......................

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