The value of Irish pension funds fell further in September as global stock markets recorded their worst quarterly decline since the 2008 financial crisis.
The average group managed pension fund slipped 2 per cent in value, bringing their three-month losses to an average 8.8 per cent, according to figures provided by Rubicon Investment Consulting. In 2011 to date, the investment return on funds has slid 10.2 per cent on average, with the worst performer nursing losses of 11.8 per cent, close to twice as bad as the 6.6 per cent drop by Canada Life/Setanta.
Over the past year, only two fund managers have managed to record positive returns and the longer-term picture is also negative.
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