UK - Balanced pooled funds have regained losses they suffered since the beginning of the year, the latest IMAGE survey by HSBC Actuaries and Consultants reveals.
The median pooled pension fund has returned 6.1% since the beginning of this year.
But HSBC says that performance looks bleak over the longer-term with the median for the year to May being -13.3%.
Investment consultant Jonathan Fish said: “The nature of the recovery has caught a number of investment managers by surprise, as it has been the previously unfavoured growth sectors that have led the market higher.”
The survey shows Baillie Gifford as the best-performing manager since the beginning of the year with a return of 7.3%.
Bottom place over the year to date went to Allianz Dresdner which returned 3.8%.
HSBC Actuaries and Consultants IMAGE survey provides performance statistics using capital growth and contribution payments on a monthly basis for 38 discretionary balanced pooled pension funds and four consensus funds.
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