The median U.K. balanced pooled fund lost 3.4% in November, down 650 basis points from October’s 3.1% return, according to Mellon Analytical Solutions’ CAPS Pooled Pension Fund Database. The funds returned 8.5% for the year ended Nov. 30, 13.8% for the three-year period, 12% for five years and 6.9% for 10 years. All figures for more than one year are annualized.
Active U.K. equity managers lost 5.1% in November, 40 bps below the FTSE All-Share index return of -4.7%. The top performers were international bond portfolios, with a median 3.7% return, while U.K. small-cap portfolios had the worst performance, at -11%.
The database covers 76 U.K.-based asset managers running £437 billion ($871 billion) in pooled funds.
