LCP Investment Summary June 2026

Global equities fell by -0.1% (in local currency terms) in June, with Eurozone markets rising by 4.0% and North America rising by 1.1% (in EUR terms). The U.S. dollar strengthened against the Euro over the month.

Following a strong May, global equities ended broadly flat in June as investor sentiment became more cautious amid renewed geopolitical uncertainty and higher interest rate expectations. Late-month weakness in semiconductor and AI-related technology stocks reflected investor concerns over elevated valuations and the sustainability of AI-driven capital expenditure, tempering some of the AI-driven momentum that had underpinned earlier gains.

The sample DB scheme's funding level rose to c. 112% during the month, reflecting a larger increase in asset values over liabilities (calculated using a Funding Standard proxy).

Our High Risk, Medium Risk and Pension Purchase DC strategies all experienced positive returns over the month.