PENSIONS funds have shown continued strong growth in the first quarter of 1997, with returns averaging 6.7 per cent, according to Irish Pensions Trust. As is the traditional pattern, the returns vary dramatically between individual fund managers and in the first quarter they ranged from a high of 8.9 per cent from ESB Fund Managers to 5.6 per cent from Irish Life.

But pension funds are usually judged by their longer-term performance and over five years, Standard Life and Canada Life were marginally the best performers with an annual 15.2 per cent return, followed closely by Bank of Ireland Asset Management with 15.1 per cent. The worst five-bear performer was from Irish Life with a 12.5 per annual return.

Over three years, the best performer was ESB Fund Managers with a 16.5 per cent return followed by Eagle Star with 15.9 per cent. Neither of these companies has been managing funds over five years.

The worst three-year performer was Canada Life with a 10.6 per cent annual return, making Canada Life the joint best performing pension fund over five years and the worst over three years.