GLOBAL - Most equity markets showed losses in Q2 2008, with international equities outperforming US equities by 40 basis points, Mercer's latest Defined Contribution Universe Summary has revealed.
Global equities lost 1.7% for the quarter and outperformed international equities by 60 basis points.
Mercer also reported the S&P 500(r) Index lost 2.7% during the quarter. The fixed income asset class turned in a negative quarter, with the Lehman Aggregate Bond Index posting a 1% loss. Money market instruments rose 0.4%, as measured by the three-month T-bill rate.
The balanced asset class, using a benchmark of 60% S&P 500/40% Lehman Aggregate Bond Indices, posted a loss of 1.9%. International equity markets, as measured by the MSCI EAFE(r) Index, lost 2.3% during the second quarter.
Capital market returns remained positive over the long term. However, over a 10-year time frame, the S&P 500 Index only returned 2.9%, while the Russell 2000(r) Index returned 5.5%.
Over a 10-year period, the fixed income asset class produced a return of 5.7%, above US equity returns (as measured by the S&P 500 Index) over the same time period.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.