Global equity markets rose 4.6% (in local currency terms) in February, with longer-dated AAA Eurozone government bond prices 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 increased over February as its assets rose and its liabilities fell.
Our High and Medium Risk DC strategies posted positive returns over the month, with the Pension Purchase Strategy falling in value.
