IRELAND – Irish group managed funds rose an average of 3.7% in the first half of this year, according to figures from Mercer Investment Consulting.

The boost follows a 9.2% rise in Irish stocks over the same period. Over the month to the end of June, they rose an average 2.4%, while over three months they are up 9.0%.

But over the year to end-June, they are still down by an average 7.3%. Over the 10-year view, they are up 8.8% a year.

Best performing fund over the first six months of 2003 was Irish Life, up 5.4%. Second was Friends First with 4.6% and third was Acorn Life at 4.4%.

Best performer in the month was Aberdeen at 3.6%, while over the three-month period it was Irish Life with 11.4%. Back in May, Mercer had reported that the average Irish managed pension fund rose 0.1% in the January-April period.