UK - Balanced pooled funds produced their first negative quarterly return since Q2 2006 with the three months to the end of March 2008 making a median -7.9%, according to BNY Mellon Asset Servicing.
Alan Wilcock, performance and risk analytics manager, BNY Mellon Asset Servicing, said: "Equity market returns in the first quarter of 2008 were one of the worst starts to a year we have see on record."
Wilcock added: "Consequently it is not a surprise that there were no positive returns in the balanced or UK equity sections of the survey this quarter."
The worst performance came from Pacific ex-Japan funds which posted a -12.1% return. However, this result beat its benchmark, unlike other overseas equity pooled funds which all fell short.
Despite missing the benchmark, Japanese equity pooled funds performed the best, with a -7.9% return, faring somewhat better than European ex-UK at -8% and UK equities at-9.7% for the quarter.
The poor performance did not contribute too badly to three and five year returns, which remained at 9.3% and 12.8% respectively.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.