DB transfer values hit lowest month-end figure in seven years

This drop, which resulted in the lowest month-end value seen since XPS launched its index in 2016, was largely driven by a steady rise in gilt yields over May, along with a fall in long-term inflation expectations, the firm said. XPS said the level is the lowest month-end figure seen in seven years, and the "lowest overall excluding the volatile fluctuations in valuation seen around the time of last year's liability-driven investment crisis". Source: XPS Pensions Group Conversely, the consultancy's Transfer Activity Index increased "dramatically" during May, showing an annuitized r...