Irish managed pension funds rose 21.8% in 2009
compared with a 27% rise in the ISEQ Index and 2008
loss of 34.8%. The worst performing fund, AIB
Investment Managers rose 13.7% in 2009 after a dip
of 35.7% in 2008.
The average annual return over 10 years was 0.3% - -
a real loss, after inflation.
SEE:
Ireland's ISEQ rose 27% in 2009 - - back to April
1997 level; Index at 30% of 2007 peak; CRH at 34% of
market
Irish pension funds lose €27 billion during 2008 as
managed funds decline 34.8%
Funds rose 4.6% in December and he best performing
managed funds in December were those of Bank of
Ireland Asset Management and KBC Asset Management,
both of which returned 5.0%. Standard Life
Investments propped up the league table with a 4.1%
return for the month. As a result of the strong
performance in December, Irish pension managed funds
delivered positive returns, averaging 3.3%, over the
final quarter of the year.
During 2009, all of the managed funds surveyed
delivered double-digit growth, with the average fund
returning 21.8% for the year. Returns over the
twelve months ranged from 29.6% (Merrion Investment
Managers) to 13.7% (AIB Investment Managers),
representing a difference of 15.9% between the best
and worst performing managers over the year.
Fiona Daly, Managing Director of
Rubicon Investment Consulting, commented:
"The average managed fund return has been a very
disappointing -8.2% per annum over the past three
years. However, the five year returns to the end of
December are positive on average, delivering a mean
return of 1.2% per annum over this period. Irish
group pension managed fund returns over the past ten
years have been a disappointing 0.3% per annum on
average, well below the Irish inflation rate of 2.9%
per annum over the same time horizon. Indeed, none
of the managed funds surveyed outperformed inflation
over this period, while four of the ten funds failed
to deliver positive returns over 10 years."
