Global equities rose by 2.8% (in local currency terms) in October, with Eurozone markets rising by 2.3% and North America rising by 4.1% (in EUR terms). The US dollar strengthened against the Euro over the month.
European equities advanced in October, supported by expectations of steady ECB policy and stronger business activity.
US equity markets extended their gains in October. The momentum was fuelled by the Federal Reserve’s late-month rate cut and the one-year trade truce agreed between the US and China.
Annuity prices experienced a rise in October as bond prices also rose.
The funding level of our sample DB scheme increased during the month to c.108% as assets outperformed liabilities.
Our High Risk, Medium Risk & Pension Purchase DC strategies all posted positive returns over the month.
