European funds get lift from equities

The outperformance by some European pension funds heavily weight- ed in equities seen over 2003 has ...

The outperformance by some European pension funds heavily weight- ed in equities seen over 2003 has continued in the first six months of 2004, despite most major equity markets having moved sideways. Institutional European pension fund managers with substantial equity allocations saw a large uplift in performance over 2003, research by consulting firm Watson Wyatt found. The rebound in the markets marked a reversal of the trend established since the start of the decade, where bond managers comfortably outperformed their equity counterparts. But this outperformance has continued through...