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.
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."