Skandia Professional Balanced topped the Balanced Pooled Pension fund sector during February with of...
Skandia Professional Balanced topped the Balanced Pooled Pension fund sector during February with offer to offer growth of 2.2%, according to data from Mellon Caps.
At the opposite end of the 58-fund peer group, the Baillie Gifford MPF fund made a loss of 0.5% while the median fund returned 0.1%.
In terms of asset allocation, the Baillie Gifford vehicle had a far greater exposure to overseas equities than Skandia during the month with its total exposure standing at 44.4% against the latter's 26.2%.
The average weighting to overseas equities over the month was 39.9%.
The bulk of the Baillie Gifford fund's overseas exposure came from Europe with the US also receiving a significant weighting. The product's UK exposure was 48.6% while the Skandia vehicle had 51.9% of its assets invested domestically and the median fund had 46.5%.
Daniel Hall, Mellon Analytical Solutions' publications and statistics manager, said overall UK equity weightings reduced from 46.8% to 46.5% over the month due to a combination of poor relative performance and managers moving money out of the sector.
"Weightings in European, Japanese and North American equities increased to 14.3%, 5.9% and 9.8% respectively as managers moved money into these sectors," Hall said.
"The end of month weightings in European equities and North American equities represented new highs for these sectors since our records began at the end of 1989."
Other strong performers during February were Old Mutual PPF, Winterthur Schroder Managed and Pru/M&G Medium Term Balanced.
Vehicles sitting at the bottom of the peer group include Fidelity Life, Henderson Balanced and Credit Suisse Balanced.