Pooled pension funds march upwards - slowly

According to Russell/Mellon pooled balanced funds returned 1.8%, albeit for a record sixth consecutive quarter. Daniel Hall, Russell/Mellon’s publications and statistics manager says: “Due to poor equity performance, pooled balanced funds lost around 30% of their asset value, on average, over the three years to 31 December 2002.” Hall says while the levels of 1999 are a long way off, ‘continued positive performance means that these funds will have now regained over half of their lost asset value’. The financial services company reveal pooled balanced managers continue to move money...