Pension fund equity exposure hits record low

The performance measurement said it was the first time it had recorded negative yearly returns for UK pension funds since the three-year downturn at the beginning of the decade. It added results were just in positive territory over the medium-term - with the average pension fund achieving a return of 0.1% per annum over three years to 31 December 2008. The weighted average return improves to 5.6% per annum over a five-year period. BNY Mellon Asset Servicing found that, during 2008, the average asset allocation to equities fell below 50% for the first time ever - reaching a record low ...