Irish pension managed funds fall almost 5%
IRELAND – Group pension managed fund returns declined almost five percent in the first three months of 2003, according to two new reports.
During the same time, the benchmark Irish stock index declined 0.6%, while the UK’s FTSE-100 declined 7.2%. As Buck Consultants put it: “”Equity markets experienced another volatile period during the first quarter of 2003.”
Buck surveyed 10 funds and found an average decline of 4.8%, while Mercer Investment Consulting surveyed 15 funds and found a 4.9% average fall.
Buck found that the best performer over the first quarter was the Eagle Star managed fund, with a 4.2% fall. Mercer found the Irish Life Global Access was top with a 3.4% decline.
There was a 23.6% decline over the year to the end of March according to Buck while Mercer saw a 23.4% decline over the same period. Best performer over this period, according to both reports, was bank of Ireland Asset Management, with a –20.1% return.