Best and Worst

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The Independent Online
MANY employers contract out the management of their pension funds to insurance companies. The survey by Combined Actuarial Performance Services measures the performance of mixed pension funds that invest in shares, gilts, bonds, cash and property, writes Maria Scott.

It is normally up to the trustees of the fund to monitor the performance of the managers they appoint. But employees can take an informed interest in whether the managers are keeping up with the pack and express their views to the administrators and trustees.

Commercial Union and Guardian Royal Exchange admit they have lost pension clients because of poor performance.

Management of Commercial Union's pension funds has now been taken over by CU Morley, a specialist pension fund manager.

GRE says its portfolio has been broadened and performance is healthier.

----------------------------------------------------------------- POOLED PENSION FUNDS ----------------------------------------------------------------- The best % 1 Martin Currie. . . . . . . . . . . . . . 17.9 2 Murray Johnstone . . . . . . . . . . . . 16.9 3 Confederation Life . . . . . . . . . . . 16.5 4 National Mutual Life . . . . . . . . . . 16.1 4 Mercury MFS. . . . . . . . . . . . . . . 16.1 The worst 26 Legal & General Disc. . . . . . . . . . 13.0 27 Sun Alliance. . . . . . . . . . . . . . 12.8 28 Guardian Royal Exchange . . . . . . . . 12.6 29 Commercial Union. . . . . . . . . . . . 12.3 30 Scottish Provident. . . . . . . . . . . 11.1 The chart shows annualised returns over 10 years from mixed (with property) funds, to 30 June 1993. ----------------------------------------------------------------- Source: Combined Actuarial Performance Services -----------------------------------------------------------------

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