By CHARLES MWANIKIMore by this AuthorPension funds once again turned to fixed income and property investments last year to escape an underperforming equities market, fresh industry data shows. On the other hand, funds cut equity outlay from 26.7 percent to 22.6 percent during the year as well as offshore investments allocation from two percent to 1.7 percent. Fixed income returns stood at 14.6 per cent last year, compared to 14.9 per cent in 2017, while equities returned -13.4 per cent compared to 2017’s 29.3 percent. Offshore returns fell to -13.2 percent from 21.8 percent. Actserv survey found that the weighted average return for all schemes returns last year was five per cent, down from 18.7 percent in 2017.

Source: Daily Nation February 06, 2019 19:04 UTC