PORTUGAL - Portuguese pension funds reported a 1.9% return in December, the best monthly return this year according to Watson Wyatt.
The firm said the compounding of SEMP’s average asset allocation as at the end of September 2005 with the corresponding indices’ monthly returns produced an expected average return of +1.9% (month on month).
Main positive contributions were reported to have come from European equities, including Portuguese equities, which account for approximately 25% of the total portfolio.
Watson Wyatt said the Portuguese equity market had also attained a four-year high despite what they refered to as, “the traditional seasonal weakness in liquidity”.
Expected returns, non-annualised, for the 12 months to 31 December 2005 were 10%
Actual returns were 1.9%in Q1 for 2005, 2.5% in Q2 for 2005, and 2.9% for Q3 in 2005.
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