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Fri 07 Jul 2009Pension funds up 5.5% in first half of year
A STRONG second quarter has seen Irish managed pension funds grow by 5.5 per cent in the first half of the year. Growth of 11.3 per cent between April and June more than compensated for a weak start to the year, with funds shedding 7.5 per cent of their value in January and February.
However, June proved a mixed month for Irish fund managers, according to figures released yesterday. While the majority of funds recorded growth, led by Standard Life Investments with a gain of 0.7 per cent, losses elsewhere – notably Irish Life Investment Managers’ 0.6 per cent setback – reduced the average return for the month to 0.1 per cent.
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