Caps funds favour overseas

overseas equity weightings in pooled balanced pension funds at record average of 30.8%

Overseas equity weightings in pooled balanced pension funds hit an all-time high in the first quarter of 2004. According to the latest Russell/Mellon Caps survey, overseas equities had an average weighting of 30.8% in portfolios over the period, the highest since the Caps records began in 1989. Of the overseas asset classes, Japanese equities saw the biggest increase, from 4.3% to 5.2%, due to a combination of strong relative performance and strategic switching into the sector. By contrast, North American, European and UK Equity weightings fell slightly. Weightings to North America appe...