Two reports published this evening show that the average Irish pension fund fell by around 3% during May, as turbulence sparked by the euro zone debt crisis affected share prices and bond markets.
Human resources services company Hewitt said its measure of Irish pension fund performance fell 2.8% in the month, while Mercer said the average managed fund fell 3%.
European stock markets fell by around 5% during May, while Dublin's ISEQ lost 13%.
Mercer's senior investment consultant Noel Collins said some funds had reduced the impact of the stock market volatility by diversifying away from smaller markets such as Ireland into assets with exposure to stronger economies in emerging nations.
