Global equities rose by 9.3% (in local currency terms) in April, with Eurozone markets rising by 6.5% and North America rising by 8.3% (in EUR terms). The U.S. dollar weakened against the Euro over the month.
European and US equities posted strong gains, supported by robust corporate earnings and a resilient economic backdrop. Improving investor sentiment further fuelled the advance, with a notable rotation back into AI-related stocks.
The sample DB scheme’s funding level rose to c. 109% during the month, reflecting an increase in asset values (calculated using a Funding Standard proxy).
Our High Risk and Medium Risk DC strategies experienced positive returns over the month, while the Pension Purchase strategy experienced negative returns.
