Irish fund managers topped pension fund performance rankings over the 14 years to 1998, delivering a real return of 12.54 per cent annually in a survey conducted on behalf of the EU Commission.
US managers provided the closest competition, returning 10.49 per cent a year. The UK and Belgium were not far behind with real return of 10.35 and 10.33 a year respectively. The Netherlands ranked fifth of the countries surveyed with a 9.64 per cent return.
The report, prepared for the EU Commission by Belgium-based Pragma Consulting, outlines recommendations for a European Code of Best Practice and is expected to form the basis of an EU directive on pension funds.
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