Towers Watson's annual Global Pension Assets Study shows that among the 13 major pension markets studied (representing nearly $32 trillion) the U.S. tops the list in equity allocations at 57%. At the end of 2013, the average global asset allocation was 52% equities, 29% bonds, 18% other and 1% cash.
Japan and the Netherlands had the highest fixed-income allocations at 51% and 50%, respectively. Meanwhile, Switzerland and Australia had the highest exposure to "other" assets, which largely includes property and alternatives – at 28% and 25% each.
