BNY Mellon Asset Servicing introduces CAPS pooled pension fund update in the UK for February 2009:
-Balanced pooled funds achieved a median return of -5.7% in February 2009 (-6.0% in January 2009),-Over one, three and five years to 28 February 2009, Balanced pooled funds returned -25.0%, -6.9% p.a. and 2.3% p.a. respectively,-Over 10 years to 28 February 2009 these funds have returned 0.9% p.a.,
-Active UK Equity managers returned -5.9%, net of fees, for the month. This was 0.6% ahead of the return of the FTSE All-Share index,-Net median performance against index performance for February 2009 is detailed below (there were not enough funds in the Pan European Equity sector to calculate a median).
Markets:
-There were negative results across each of the major equity markets during February, continuing the negative performances in January,-Within equities the strongest performance came from UK Smaller Company Equities, which returned -3.1%,
-In comparison, the weakest equity performances came from Japanese and Europe ex UK Equities with returns of -12.3%, and -9.5% during February,-UK Bonds provided the strongest returns with 0.1% for Standard and 0.7% for Long Term,-Cash, 0.1%, provided the only other positive return for February 2009.
Balanced fund asset distributions:
-UK Equity weightings fell by 0.3% in February to 36.4% when compared to January,-Overseas Equities weightings also fell. The weighting decreased from 37.4% in January to 36.3% in February, a drop of 1.1%,
-A combination of positive relative performance and manager movements led to an increase of 0.4% in UK Government and 0.2% for UK Non-Government Bonds to 6.2% and 4.9% respectively,-Cash weightings also increased by 0.6% during February, which can be attributed to positive relative performance during this period,-Weightings remained fairly static for Index-Linked Gilts, Overseas Index Linked and Property.
L.D.