IRELAND – Irish group pension managed funds have returned more than six percent so far this year, according to new data from consulting firms.

Buck Consultants put the average return for the first nine months of the year at 6.4% while Mercer Investment Consulting put it at 6.3%. Over the same time Ireland’s ISEQ equity index rose 15.1%.

In the third quarter, funds rose by 2.6%, according to Buck and 2.7% according to Mercer.

“Pension funds, which generally have between 60% and 80% of their assets invested in equities, have benefited from the recent pick-up in equity markets,” Buck said. September saw a 2.5% fall, according to Mercer.

Over 12 months, results were 8.6% (Buck) and 8.2% (Mercer). Buck said the best performer in the year so far was Irish Life, up 8.2% while Mercer said the number one was Acorn Life, up 8.3%.