PORTUGAL - Portugal's pension funds showed a modest Q2 rise, according to a survey by global consultant Watson Wyatt.
The SEMP 2000 study showed this year’s median performance of all segregated funds that are managed on a balanced basis was up by only +0.3%, and the inter-quartile ranged from -0.1% to +1%.
The survey added that despite the negative trend in the quarter end, equity markets still managed positive returns for international equities and Eurozone equities. However, Portugal’s over exposure to Latin America was harshly penalised by markets.
The study covered 178 pension funds - including segregated funds, pooled funds and third pillar personal savings plans - managed by 13 pension fund managers. The combined value of these funds is EUR12.5bn (PTE 2.513bn), representing about 92% of the total market value of all Portuguese pension funds.
By Madhu Kalia
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