Irish group managed funds rise 4%
IRELAND – The average Irish group pension managed fund rose by around four percent in October, according to new data.
“Group pension managed funds produced positive returns over the month of October, with the average fund rising
4.1%,” said Buck Consultants. Mercer Investment Consulting put the rise at four percent exactly.
Buck said that Irish funds, which generally have between 60% and 80% of their assets invested in equities, were “benefiting from the continued good performance in equity markets which was maintained during October”.
“Over the first ten months of 2003, the average fund has returned 10.8%,” Buck added. Mercer puts the figure at 10.6%.
“For the twelve months to the end of October the
average return has been 7.9%,” Buck adds, slightly higher than Mercer’s 7.4%.
According to both firms, over the three years to the end of October the average fund has returned –6.9%. Over five years, the return comes out at 2.7%.
According to Buck and Mercer, the best performer in October was Hibernian Life, with a 4.5% return. Year-to-date, Irish Life was top, with a 12.9% return.