Pension funds end year on high
Irish pension managed funds recorded gains in December, with average returns of 1.1 per cent, as markets swung their way.
Figures from Rubicon Investment Consulting reveal Merrion Investment Managers were the top performers in the month with a return of 2.4 per cent.
Friends First/F&C, Prescient Investment Managers and Zurich Life jointly propped up the league table with a return of 0.8 per cent.
The average managed fund return has been a “healthy 7.1 per cent per annum” over the past three years according to Rubicon.
However, half of the five year returns are negative, with an average return of -0.5 per cent each year over this period.
Irish group managed funds posted returns of 4.9 per cent a year on average over the past 10 years, compared with an inflation rate of 1.8 per cent over the same period.