The average Irish pension managed fund rose by 0.1 per cent for the first four months of 2003, according to figures just released by Mercer Investment Consulting.
This is the first time that pension funds have risen since last year. F&C Ireland top the survey over the short-term, with a year-to-date return of 0.7 per cent, followed by AIB Investment Managers, Irish Life and New Ireland, all of whom returned 0.5 per cent over the same period. The biggest under-performers were KBC Asset Management, whose funds decreased by 0.4 per cent over the period, and Aberdeen Asset Management, whose funds saw a 1.2 per cent decline.
From a long-term perspective, New Ireland top the survey over a five-year period, with returns of 2.3 per cent per annum, followed by Bank of Ireland Asset Management and Montgomery Oppenheim, both of which returned 1.7 per cent per annum.
According to Eamonn Liddy of Mercer Investment Consulting, the average ‘discretionary’ pension fund continues to hold approximately 65 to 70 per cent of their fund in equities, and individual pension funds are now also considering wider investment issues. |
