Top pension funds reach all-time global record

Core Insights - The world's largest 300 pension funds have reached a record total of US$ 24.4 trillion in assets under management, surpassing the previous record of US$ 23.6 trillion set in 2021 [1][3] Industry Trends - The growth rate of pension fund assets slowed to 7.8% in 2024, compared to a 10% increase in the previous year [3] - The combined assets of the top 20 pension funds exceeded US$ 10 trillion for the first time, accounting for 42.4% of the total assets of the top 300 funds [4] - Defined contribution (DC) fund assets grew by 14.3% in 2024, while defined benefit (DB) schemes saw their share of total assets fall below 60%, now at 59.4% [8] Investment Strategies - Ten of the top pension funds are enhancing their expertise in artificial intelligence, with nine prioritizing technology adoption in portfolio management [5] - The Total Portfolio Approach (TPA) is being explored by more funds to align purpose, capital, and decision-making for better long-term outcomes [11] Key Players - Norway's Government Pension Fund has overtaken Japan's Government Pension Investment Fund as the largest pension fund, with total assets of US$ 1.77 trillion, which is 6.9% larger than Japan's fund [6][12]