Balanced pooled funds saw fifth negative quarter

Balanced pooled funds have posted their fifth quarter of negative returns, according to BNY Mellon.

The group's Asset Servicing latest fund survey showed negative performance of -7.9% for the first quarter of 2009, falling from the -3.4% it posted in Q4 2008. This prolonged period of negative performance has impacted one and three year returns which achieved -20.5% and -6.6% respectively. Weightings to UK equities have also fallen a further 1% from the previous quarterly low of 36.5% in Q4 2008, while overseas, Europe ex UK and Japan saw holdings decrease by 0.9% and 0.7% respectively, largely due to poor performance in these regions. North America equity saw inflows, which help...