Irish managed pension funds made strong gains during February,
with an average return of 1.5% for the month.
Setanta Asset Management took top spot with a return of 1.8% for
the month, while Aviva Investors propped up the league table with a return of
1.0%. The average managed fund has also advanced 1.5% over the first two months
of the year; with returns ranging from a high of 2.7% (Irish Life Investment
Managers) to a low of 0.9% (Aviva Investors and Standard Life Investments).
Over the past twelve months the average fund returned 12.7%.
Returns for the past year ranged from 16.7% (Standard Life Investments) to 10.8%
(Setanta Asset Management).
Fiona Daly, managing director of
Rubicon Investment Consulting,
commented:"The average managed fund return has been a disappointing
-0.9% per annum over the past three years. The five year returns to the end of
February are mostly negative, with an average return of -1.1% per annum over
Irish group pension managed fund returns over the past ten
years have been a disappointing 1.4% per annum on average, well below the Irish
inflation rate of 2.4% per annum over the same time horizon. Indeed, only one of
the managed funds surveyed (that of Eagle Star/Zurich Life) outperformed
inflation over this period."