Bleak October for balanced funds
Balanced funds recorded an average decline in value of about 1.7 per cent during October, reversing most of their gains in September. All of the 30 balanced funds tracked by Mercer Investment Consulting delivered negative returns for the month. Worst hit was Macquarie Bank's Life Balanced fund, which fell by 2.2 per cent. State Street Global Advisors Passive balanced fund recorded the lowest loss, down by with returns down by 0.5per cent during October.