Irish pension managed funds delivered another positive month of returns during November, with an average return of 1.4% for the month, according to Rubicon Investment Consulting.

Merrion Investment Managers took top position with a return of 2.0% for the month, while Kleinwort Benson Investors propped up the league table with a return of 0.6%. With nine out of eleven months recording gains, managed funds have now returned 15.9% on average so far in 2013.

Setanta Asset Management delivered the strongest return over the year to date at 18.1%, while Kleinwort Benson Investors produced the weakest return, gaining 14.3% over the same period. Over the past twelve months, the average fund return was 17.3%. Returns for the year ranged from 19.2% (Setanta Asset Management) to 15.5% (Kleinwort Benson Investors).

The average managed fund return has has been 9.9% per annum over the past three years. The five-year average return is strong, at 11.0% per annum. Irish group pension managed fund returns over the past ten years have been 5.5% per annum on average, compared with the Irish inflation rate of 1.6% per annum over the same time horizon. All of the managed funds surveyed outperformed inflation over this period.

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