Irish managed funds fall 21% - Mercer
IRELAND – Group pension managed funds declined by more than 21% in the year to the end of February, according to data provided by Mercer Investment Consulting.
Mercer tracks 16 funds and found they declined by an average 21.6% to February 28 2003. On a one-month view they fell 1.9% and on a year-to-date basis they have fallen 4.9% on average.
Best performer over the 12-month period was the Bank of Ireland Asset Management, down “just” 17.7%. Worst was KBC Asset Management, down 24.7%.
Over the 12-month period, Ireland’s ISEQ index has declined by 21.6%. It’s down 4.5% on a year-to-date basis and off 3.9% for the month.
Mercer said in January that the average Irish pension managed fund fell 18.9% in 2002. Last year Bank of Ireland Asset Management and New Ireland came top while KBC and AIB Investment Managers ranked bottom.