PORTUGAL - Portuguese pension funds are expected to post positive returns in July, returning an average of 0.7%, despite negative sentiment as a result of various terrorist attacks and volatile oil prices.
According to Watson Wyatt, positive contributions are likely to come from equities. International equities are expected to return 2.9%, with Portuguese equities at 1.1% and other Euro equities at 4.4%.
For the second quarter ended 2005, expected returns are 2.7%, while returns for the first quarter were 1.9%.
For the seven-month period ended July 31, 2005, pension funds are expected to return 5.3%.
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