U.K. pension funds grew 18.1% to 340 billion ($510 billion) in the 12 months ended March 31, 1993, according to the 1994 Pension Funds and Their Advisers.
The annual directory of the U.K.'s largest pension funds lists 2,059 pension funds, down slightly from 2,091 in 1992. Other experts estimate the entire U.K. fund universe now approaches 500 billion ($750 billion).
The number of funds with at least 1 billion in assets surveyed increased to 55 from 45. The 1 billion club comprised 54.8% of total U.K. pension fund assets, compared with 52% of the 288 billion in pension assets in 1992.
Because funds do not have to file reports on assets and liabilities, they tend to report data at the end of the fiscal year or April 5, when taxes are filed.
The directory is published by AP Information Services, London, and distributed in the U.S. by Money Market Directories Inc., Charlottesville, Va.