Pension funds gained again in August
Wednesday, 2 September 2009 16:27Two separate sets of figures show that the value of Irish pension funds rose again in August as world stock markets made gains.
Investment consulting group Rubicon said the average managed fund returned 2.8% in August, bringing the average gain for the year so far to 15%.
Irish Life Investment Managers was the best performer in August - up 3.9% - while Aviva Investors lagged with a 2% return. For 2009 so far, Merrion Investment Managers was best performing, gaining 22.9%. AIB Investment Managers was worst with 8.8%.
Hewitt Associates said its managed fund index showed a gain of 3%% in August, the sixth monthly rise in a row. It said the average fund had gained more than 24% since the end of February. But it added that average returns for the last 12 months remained negative at -11.5%.
