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Investments and pensions underperforming

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12/12/2007

For most savers and investors 2007 has proved to be another challenging year, according to financial information provider Moneyfacts.


High volatility in stock markets have come about as a result of the problems in the US sub prime mortgage market and the subsequent credit crunch. 
The UK equity market has proved particularly vulnerable to the credit crunch. In mid August the FTSE 100 plummeted to 5,858 after suffering a 4.1% fall in just one day. However, it has bounced back strongly since and at the start of December stood at a more comfortable 6,432, a rise of 3.4% for the year.
The average UK All Companies fund has fallen 2.7% over the year to date, whilst the average UK Smaller Companies fund has posted an even bigger loss of 9.6%.
The UK has been among those hit hardest by the credit crunch, Asia has emerged relatively unscathed, with China in particular enjoying a phenomenal 2007. Lipper figures show that the Asia Pacific Excluding Japan sector was the biggest success story of the year, with the average fund posting growth of 27.8%.
Richard Eagling, Editor of Investment, Life & Pensions Moneyfacts commented: “It may be the season to be jolly, but for many savers and investors, events over the past few months have brought precious little in the way of Christmas cheer. Instead, the prevailing sense of uncertainty created by the ongoing credit crunch and stock market volatility is in danger of serving up a large dose of the winter blues.”

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