Global equities rose by 2.1% (in local currency terms) in August, with Eurozone markets rising by 0.5% and North America declining by 0.2% (in EUR terms).
European equities experienced modest gains in August, supported by favourable macroeconomic signals. The manufacturing PMI rose to 51.1, signalling expansion in manufacturing activity for the first time in over three years, while the unemployment rate fell to a record low of 6.2%. Attractive valuations further underpinned demand, though political uncertainty particularly in France, tempered overall performance.
U.S. equity markets maintained a positive momentum in August despite some intra month volatility.
The funding level of our sample DB scheme fell slightly during the month, holding steady at c.105%. (calculated using a Funding Standard proxy).
Our High Risk DC strategy posted positive returns over the month while the Medium Risk & Pension Purchase DC strategies experienced a fall.
