Pension funds in the US saw almost $500bn (€568bn) of their asset value wiped out last year as falling equity markets took their toll, according to a new report.
Total assets under management fell for the first time in 10 years - from $6.2 trillion to $5.7 trillion. The findings come in a new report from Greenwich Associates, the US research firm. "Based on funds interviewed, Greenwich Associates projects a total market loss of $475bn," the report said.
