During May, the Rubicon Multi-Asset Pension Fund Survey shows a 0.3% return on average, with fund returns ranging from 1.6% to -0.5%. Over the first five months of 2021, the funds surveyed have delivered an average gain of 8.5%. Over the past twelve months, the average return of the 16 funds surveyed is an impressive 22.3%. Returns for the past year ranged significantly, from 27.1% to 15.7%, reflecting the volatile year experienced by investment markets.

The average return has been strong, at 8.0% per annum, over the past three years. The five-year average return is a robust 7.9% per annum. Fund returns over the past ten years have been a healthy 8.9% per annum on average.