Aussie supers face equities overexposure

Australia’s superannuation funds produced high-teen returns in equities and close to double-digit returns in bonds last year, as the industry’s assets grew to 101% of gross domestic product or $1.6 trillion, finds a new study by consulting firm Towers Watson. Released yesterday, the annual report into asset accumulation and allocation trends covers the world's largest pension markets, with Australia now ranked fourth, behind the US, Japan and the UK, in that order. By many metri…