IRELAND - The average Irish managed pension fund rose 0.1% in the first four months of the year, according to research by Mercer Investment Consulting.

The data appears to suggest that the funds have turned the corner, following an average 4.9% fall in the first quarter of the year.

In the month to the end of April, the average group pension managed fund rose 5.2%. On a three-month view, the average fund has risen 3.2%. Over the past year, though, the data still show a 17.5% fall.

In the first four months of the year, the main Irish stock index, the ISEQ, has risen 6.7%. Over a one month and three month horizon it is up 7.4% and 7.3% respectively.

Best performer fund in the first four months was Friends First/F&C, up 0.7%, with Irish Life and New Ireland second equal at 0.5%. For one month, Irish Life comes out top, with a 6.35 rise. Over three months, Standard Life Investments is top, up 4.3%.

The average 10-year annual return now stands at 9.1%, which is up from 8.7% at the end of the first quarter.