Global equity markets fell 2.6% (in local currency terms) in April, with longer-dated AAA Eurozone government bond prices also falling (and yields rising).
Annuity prices decreased over the month (all annuity rates are 5-year guaranteed and single life).
The funding level of our sample DB scheme decreased over April as its assets fell by more than its liabilities.
Our three DC strategies all showed a negative return over the month.
