Global economic recovery drives record public asset growth

Singapore

PENSION fund, central bank and sovereign fund assets grew by US$2.5 trillion on the back of a strengthening global economy in 2017, according to an annual publication released on Wednesday by the Official Monetary and Financial Institutions Forum (OMFIF).

The 7.3 per cent increase is the largest since the London and Singapore-based think-tank started tracking such data, eclipsing 2016's 1.1 per cent growth.

The report examined data from a list of 495 public pension funds, 164 central banks and 91 sovereign funds from 174 countries, and recorded an increase in assets for all three types of institutions for the first time. Their assets now tota…