Equity market falls hit balanced pooled funds

Equity market weakness drove falls in balanced pooled funds during the second quarter of 2002, accor...

Equity market weakness drove falls in balanced pooled funds during the second quarter of 2002, according to the Caps Pooled Pension Fund Database. Equities were negative across the board during April-June 2002, with the UK market down 11%, North America off 19.3% and emerging markets falling 14.5%. The dismal North American performance came about as a result of poor local returns combined with the rise of sterling against the dollar, which fell 6.6% over the quarter. Europe ex-UK returned -9.5%, while Japan provided the best equity performance with a return of -0.5%, in sterling terms. ...