Global equities rose by 1.6% (in local currency terms) in February, with Eurozone markets rising by 3.5% and North America rising by 0.2% (in EUR terms). The US dollar strengthened against the Euro over the month.
European equities posted strong gains in February supported by solid corporate earnings and signs of economic stabilisation. In contrast, US equity markets exhibited a more mixed performance.
Eurozone inflation in January came in below target at 1.7% year on year.
Annuity prices rose in February, reflecting increasing bond prices.
The sample DB scheme’s funding level rose to c.109% during the month, reflecting a rise in asset values (calculated using a Funding Standard proxy).
Our High Risk, Medium Risk & Pension Purchase DC strategies all posted positive returns.
