mast image

Special Report

Impact investing

Sections

Bad start in Portugal

New figures published by consultants Watson Wyatt show Portugal’s pension funds have registered a weak start to the year after making up some of the ground on last year’s poor returns.
Returns from the country’s segregated funds, which represent 96% of total pension assets, dropped from 3.9% in the final quarter of last year to 0.3% in the first quarter of this year.
The top performing fund returned 1.8%, well below the corresponding figure of 6.1% for the final quarter of 2001 while the worst performer lost 0.9%, down from a corresponding figure of –0.3% for last year’s final quarter.
Domestic equities have taken a battering in the last twelve months dropping 13.1%.
The study covers a total of 172 Portuguese funds including segregated, pooled and third party personal savings plans, covering approximately 94% of the country’s pensions assets.
The report says the first quarter of the year witnessed a series of events- optimistic figures from the US combined with the Enron debacle and the Argentinean crisis that produced diverse returns.
Over the first three months of the year, Portugal’s PSI-30 lost 1.4% while Euro-zone equity markets as a whole gained 1.5%. An appreciating dollar and gains in Asian markets pushed international equities 2.6% higher.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2558

    Asset class: Private Equity.
    Asset region: Global or Swiss.
    Size: USD $5-10m.
    Closing date: 2019-08-20.

  • QN-2559

    Asset class: Multi Assets.
    Asset region: -.
    Size: EUR 15m (may be split into two mandates EUR 7.5m).
    Closing date: 2019-09-06.

  • QN-2560

    Asset class: Private Equity.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

  • QN-2561

    Asset class: Infrastructure.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

Begin Your Search Here
<