AUSTRALIANS' FOREIGN ASSETS TO RISE

CARLTON, Australia -- Australian pension funds expect to increase international allocations over five years, according to a survey by the Centre for Investor Education. This trend "would be further influenced by new regulations that would see Australians move to a U.S.-style 401(k) environment," said chairman Melda Donnelly. The funds now average a 35% international allocation. The increase could amount to 10% or more. The survey represents the views of 14 of Australia's largest corporate, public and industry pension funds, which have in all A$33 billion (U.S.$20.5 billion) in assets. They represent about 10% of the total pension assets in Australia.