The Broadstone Sirius Index shows funding improvements across both growth-focused and matching-focused defined benefit pension scheme strategies during June, with growth assets continuing to outperform.
According to the index, the funding level of the growth-focused scheme increased from 92.3 per cent at the end of May to 93.1 per cent at the end of June, reflecting continued strong performance from return-seeking assets and tightening credit markets.
The matching-focused scheme also recorded funding gains, with its funding level rising from 89.4 per cent at the end of May to 89.9 per cent at the end of June, almost returning to its funding position at the start of the year.
Broadstone head of trustee services Chris Rice says: “Pension schemes can generally be expected to have improved their funding positions throughout June.
“Thankfully, the political uncertainty and impending change of Prime Minister has not spooked the bond markets which has allowed pension scheme funding to remain stable. Growth assets also performed well in June which has contributed to positive scheme funding progression, especially in the scheme with a stronger focus on these types of investment.”