Balanced funds fall for first time in a year

Pension schemes face lower than expected returns over the third quarter after UK balanced pooled funds reported negative real returns for the first time in 12 months.

The funds achieved a median return of 0.1% against a return of 0.3% for the retail price index over the three months to the end of September, according to BNY Mellon Asset Servicing's latest Caps pooled pension fund survey.

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