None of the 87 balanced pension funds surveyed by Russell/Mellon Caps managed positive growth in t...
None of the 87 balanced pension funds surveyed by Russell/Mellon Caps managed positive growth in the third quarter.
The top performing fund, the Prudential M&G Medium Term Balanced pension fund, returned -5.6% growth in the third quarter, according to the latest figures from Russell/Mellon Caps. The fund is also the top performer for the period between 1 January and 30 September.
The top five performing funds in descending order for the third quarter were Prudential M&G Medium Term Balanced, Skandia Professional Cautious, Neptune Ex Balanced, Govett Core & Satellite and MIR UK Balanced Exempt.
The worst performing fund for the quarter was Glasgow Investment Managers, with -21.7% growth. This continued a long period of underperformance for the portfolio, which is second from 49 funds for 10-year performance but is ranked bottom for its five, three and one-year performances.
The best performing asset class within pooled pension funds for the third quarter was long-term UK bonds which achieved 6.9% growth. This sector was also the best performing for the year till the end of September and on a 12 month period. Property saw the best performance over the long term, scoring highest on 10, five and three-year periods.
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