UK - Balanced pooled pension funds results for the month of July improved from the previous month, a study by BNY Mellon Asset Services has revealed.
Over one, three and five years to 31 July 2008, balanced pooled funds returned -7.8%, 5.0%pa and 8.7% p.a. respectively, while over 10 years to 31 July 2008 these funds have returned 3.6%pa.
The study also showed active UK equity managers returned -3.7%, net of fees, for the month. This was 0.1% behind the return of the FTSE All-Share index.
Net median performance was negative across most sections analysed by the survey. The only positive results were in UK standard bonds (1.9%), long term UK bonds (2.3%), international bonds (0.5%) and cash (0.4%).
The index performance for UK bonds was higher than the net median return. Standard UK bonds index return was 2.4%, while long term UK bonds index return was 3%.
BNY Mellon said weightings in UK equities fell from 41% to 40.6%, while weightings for overseas equity sectors all saw increases, with the exception of pacific ex Japan equities, whose weightings remained static.
Holdings in UK bonds saw the biggest increase in the month and were boosted by 0.5% to 9.1%, due to a combination of positive relative performance and manager movements.
BNY Mellon Asset Servicing covered 75 separate asset managers who managed over £406bn (US$744.6bn) in pooled funds, both balanced and specialist.
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