To match as closely as possible, subject to the effect of charges and regulations in force from time to time, the capital performance and net income yield of the FTSE 100 index. The Halifax FTSE 100 Index Tracking Life and Pension funds invest directly into the Halifax FTSE 100 Index Tracking OEIC.
The sharp rise in market volatility that started in September carried over into October, as further turmoil in the global financial system fed through into continued equity market losses. In the UK, economic news continued to point to a recession, with indicators such as retail spending and housing remaining weak. Third quarter GDP came in at -0.5%.Early in the month the Bank of England cut interest rates by 0.5% to 4.5%, in a coordinated move with other major central banks. This was followed by the announcement of a bank bailout package that would see the Government take stakes in UK banks whilst also providing extra liquidity to the money markets. The FTSE 100 index fell by 10.5% over the month. Oil & gas and Pharmaceuticals were the best performing sectors, while banks, life assurance and mining all recorded significant falls.
84.93p
