A 10% rally in the last three months of the year was not enough to mask what has been a dismal year of performance for Irish pension funds.
The weak performance of global stock markets saw the average fund drop 5% in the year, with Canada Life and Baillie Gifford dropping over 8%. New Ireland and Bank of Ireland Asset Management limited their losses with their funds falling just over 2%.
According to Tom Murphy, of pensions specialists Mercers, the funds that did best were those with the least money in equity markets, as the global economy dragged stock markets indices downwards.
Over a five year period Montgomery Oppenheim tops the table with 18% annual returns, closely followed by New Ireland at 15% per annum. The worst performer was Standard Life, showing 10% annual growth over five years.
