Emerging markets claimed the overall prize for equity performance for the month of May, according to index group FTSE.
While world markets overall showed a slow decline, four emerging markets all managed double-digit percentage gains. The star of the show came from Latin America, where the Colombian market gained nearly 22% in US dollar terms, as the government pushed through economic reforms. Indonesia gained nearly 20% as it rebounded from losses prompted by the country’s political turmoil. The two former Communist giants, Russia and China, also performed strongly.
Turkey was among the emerging market casualties and Greece ceased to qualify for inclusion within the emerging market funds.
Developed markets appeared to consolidate after April’s big rally as investors recognised that despite interest rates cuts in the US, UK and Europe, economic growth remains sluggish and corporate earnings are still under pressure. European markets suffered particularly, as it become clear that growth was slowing in Germany and France.
By Janet Du Chenne
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.