EAGLE Star (Balanced) has been the highest performing managed pension fund in the 12 months to July 31st, 1996, according to Irish Pensions Trust. It managed a return of 17.8 per cent compared with an average return of 13.9 per cent.

The second-best performer has been Guardian Life, which grew by 16.7 per cent, with Friends Provident ranking third with an increase of 15.7 per cent.

The worst performer has been Ulster Bank Investment Managers, which grew by 11.1 per cent. Hibernian Life ranks second worst with a return of 12.2 per cent.

The rankings arc somewhat different over the seven-month period to the end of July. The best for this period is Guardian Life with a return of 7.8 per cent, followed by Friends Provident with a gain of 7.1 per cent. The worst is ESB Fund Managers, which grew by 3.7 per cent.