North American And Emerging Markets Tout Highest Equity Returns In November, Says CAPS

The CAPS Pooled Pension Fund Update, a Mellon survey that collects data from a database representing 77 asset managers of UK based pension funds, reported that balanced pooled funds achieved a median return of 4.2% in November 2005. Over one,

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The CAPS Pooled Pension Fund Update, a Mellon survey that collects data from a database representing 77 asset managers of UK-based pension funds, reported that balanced pooled funds achieved a median return of 4.2% in November 2005.

Over one, three and five years to 30 November 30, 2005, balanced pooled funds returned 20.2%, 13.3% p.a. and 2.4% p.a. respectively, and over 10 years these funds returned 7.0% p.a.

Active UK equity managers returned 3.6%, net of fees, for the month. This was ahead of the FTSE All-Share index of 3.3%.

Following a poor performance in October, equity markets gave positive returns across the board in November 2005, where emerging markets and North American equities gave the best returns of 10.8% and 6.4% respectively.

Japanese and Pacific ex Japan equities both returned 6.2% over the month, while Europe ex UK equities returned 4.8%. UK equities provided the poorest equity market performance of 3.3% over the month, but still outperformed Cash and other asset classes.

Property achieved the best non-equity return of 1.4%.

UK bonds acheived 1.2%, overseas bonds, 1.1% and UK Index-Linked Gilts 1.0% also achieved positive returns ahead of the cash return of 0.4%.

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