New figures show that the average Irish pension fund lost 1.9% of its value in January.
Figures from investment consultant Rubicon showed that Standard Life Investments performed best in the month, down just 0.5%. Irish Life Investment Managers and Setanta Asset Management were the worst performers, with 2.7% falls.
The January figures follow a drop of almost 35% in the value of the average fund in 2008.
Rubicon described the 10-year average return of -0.4% as 'very disappointing', as it was well below the Irish inflation rate of 3.6% over the same period.
