In a press release, Towers Perrin said results for May showed significant gains in equity results, but these were offset by a decline in long corporate yields, which pushed up liability values. With the increase, the tracked funded ratio has risen by 9.5 percentage points since bottoming out at 60.2% in February, and is up by 3.7 percentage points for the year.
However, May’s level still represents a 22 percentage point decline over the past 12 months.
With cumulative equity gains of 28% for the March-May period, the equity portfolio has reversed nearly 40% of the loss incurred during the first six months of the capital market crisis, Towers Perrin contends in its report.
The latest Capital Market Update is here .
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