Pension funds delivered their third consecutive year of negative returns in 2002, according to pensi...
Pension funds delivered their third consecutive year of negative returns in 2002, according to pension fund analysts Russell/Mellon Caps, the first time such an event has occurred since records began. The average pension fund returned -11.3% over the calendar year 2002, following losses of 8.9% and 1% in 2001 and 2000 respectively. US and Europe ex-UK equities were the year's worst performers, with fixed interest, property and cash the only sectors to post positive growth.
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The Big Interview: Focus on ethical investment
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'No control or oversight'
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