UK - The £2.3bn South Yorkshire Pension Fund's assets have risen by 20% over a 14-month period.
An interim valuation carried out by Mercer Human Resource Consulting valued assets at £1.96bn at the end of March 2003, which represented a 66% funding ratio of the scheme’s liabilities. In total the scheme was estimated to have a £1bn funding deficit.
But the latest figures published by the fund show its assets had risen to £2.3bn by the end of May. This figure matches its 2001 value when its funding ratio was calculated at 90%.
Over the past six months the fund has seen most growth in alternative investments, which grew from £18m to £30m, overseas equities, up from £467m to £515m and corporate bonds, up from £111m to £134m. The only notable fall was in UK equities from £989m to £980m.
The updated distribution figures do not state whether the changes come from shifts in asset allocation or changing values.
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