Risk Moment RES

U.K. Pension Funds Rose for Third Straight Quarter, Mellon Says
By David Clarke

April 27 (Bloomberg) — U.K. balanced pension funds advanced 2.3 percent in the first quarter, the third straight three-month stretch of gains, according to Mellon Financial Corp.

The best performer was Glasgow Investment Managers’ 46 million-pound ($92 million) fund, which advanced 3.9 percent, Mellon’s London-based fund measurement unit said in an e-mailed statement today. The laggard of the 57 funds was the 229 million-pound St James’s Place Newton GBL Fund, which fell 0.5 percent, Mellon said.

Balanced funds invest in a variety of stocks, bonds and other assets and are used by pension funds seeking to put money into a range of securities. The U.K’s FTSE 100 index advanced 1.4 percent in the first quarter of the year.

To contact the reporter for this story: David Clarke in Edinburgh at dclarke3@bloomberg.net

Last Updated: April 27, 2007 07:24 EDT

http://www.bloomberg.com/apps/news?pid=20601014&sid=aK9AqmpQpsBE&refer=funds

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