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Press Releases
5/27/08 - BNY Mellon Asset Servicing announces CAPS pooled pension fund update for April 2008
BNY Mellon Asset Servicing announces CAPS pooled pension fund update for April 2008
LONDON, May 27, 2008 – BNY Mellon Asset Servicing, the global leader in securities servicing, has today announced the CAPS pooled pension funds performance results in the UK for the month of April 2008.
- Balanced pooled funds achieved a median return of 4.7% in April 2008 (-1.7% in March 2008)
- Over one, three and five years to 30 April 2008, Balanced pooled funds returned -0.9%, 11.9% p.a. and 12.3% p.a. respectively
- Over 10 years to 30 April 2008 these funds have returned 4.6% p.a.
- Active UK Equity managers returned 5.3%, net of fees, for the month. This was 1.0% behind the return of the FTSE All-Share index
- Net median performance against index performance for April 2008 is detailed below:
| Section |
Net Median Return (%) |
Index Return (%) |
| Balanced |
4.7 |
- |
| UK Smaller Companies |
2.8 |
3.7 |
| UK Equity - Standard |
5.3 |
6.3 |
| Overseas Equity |
5.9 |
5.9 |
| Global Equity |
5.8 |
- |
| North American Equity |
5.4 |
5.5 |
| European ex UK Equity |
4.1 |
4.2 |
| Pan European Equity |
4.4 |
5.1 |
| Japanese Equity |
7.6 |
7.7 |
| Pacific Basin (ex Japan) |
8.5 |
8.8 |
| Emerging Market Equity |
8.6 |
8.5 |
| UK Bonds – Standard |
-0.5 |
-1.5 |
| UK Bonds – Long Term |
-0.2 |
-1.6 |
| International Bond |
-2.7 |
-3.1 |
| Index-Linked |
-1.3 |
-1.3 |
| Cash |
0.4 |
0.4 |
| Property |
-0.3 |
-0.6 |
Markets
- Following on from some poor performances in the first quarter of the year, the equity markets picked up during April and there were positive returns in each of the major equity markets
- Within Equities, the strongest performance came from Pacific ex Japan Equities which returned 8.8%, whilst the lowest performing sector was Europe ex UK Equities with 4.2%
- Both UK and International Bonds failed to provide positive results during April, with returns of -1.5% and -3.1% respectively
- Index-Linked Gilts also faltered during the month, returning -1.3%
- Cash returned 0.4% during the month, whilst Property continued its run of negative returns with -0.6%
Balanced fund asset distributions
- Despite managers moving money out of this sector, weightings in UK Equities were boosted by 0.1% to 41.7% as a result of strong relative performance during the month
- Within Overseas Equities, managers moved money into North American and Japanese Equities
- This, combined with positive relative performance meant that weightings were boosted by 0.5% and 0.3% respectively
- Weightings fell by 0.2% in UK Bonds, as a result of poor relative performance. This was despite managers moving money into this sector, in addition to International Bonds
- Weightings in Index-Linked Gilts remained static during April, whilst holdings in Cash fell by 0.4% during this period
- Weightings in Property fell by 0.1% during the month, putting end of the month weightings at 0.6%. This is the lowest recorded level since our records began.
Survey size
BNY Mellon Asset Servicing’s Pooled Pension Fund Database covers the largest and most representative sample available to UK pension funds’ trustees. We currently cover 75 separate asset managers who manage over £429 billion in pooled funds, both balanced and specialist.
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