Global equity markets rose 8.0% (in local currency terms) in November, with longer-dated AAA Eurozone government bond prices also rising sharply (and yields falling).
Annuity prices increased over the month (all annuity rates are 5-year guaranteed and single life).
The funding level of our sample DB scheme increased over November as its assets rose by more than its liabilities.
Our three sample DC schemes all rose with most asset classes showing a positive return over the month.
