GLOBAL - Rubicon Investment Consulting's monthly group pension managed funds update delivered both good and bad news for the pensions industry.
On the plus side, it showed pension managed funds rose by an average of 2.8% over the month of August, an improvement after a sluggish July.
However, it also pointed out that bond yields fell again in August, causing pension funds' liabilities increase accordingly.
In terms of equity performance, Irish equities led the way in August, rising an average of 7.5% - way ahead of the UK average of 0.4% (sterling terms) or 2.0% (Euro terms).
US equities also increased very little, only 2.4%, despite the hold on interest rates imposed by the Federal Reserve.
Other equity performance results for August were: Eurozone 3.6%; Rest of Europe 3.1%; Japan 4.0% and Pacific Basin 3.5%.
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