News update – Pooled funds fall by 4.4% in Q1/2003

Pooled balanced funds for pension funds fell by 4.4% over the first quarter of 2003 according to analysis from performance measurement firm Russell/Mellon CAPS. Negative returns were noted across all major equity classes, which were only partly offset by positive returns of 5.1% on overseas bonds, 3.1% on index-linked gilts and 1.2% on both property and UK fixed-interest.