Irish investment funds lost more than €2 billion last year, according to the Irish Association of Investment Managers. This is equivalent to all of the new savings contributed by investors during the year - plus another €568m.
A total of 28% of the total inflow into investment funds was accounted for by SSIA related investments which included a 25% top up from the Government.
The Irish Association of Investment Managers said there is no need for SSIA investors in financial funds to panic. Nevertheless, they warn that share values could fall further and that equity returns in the future may be more modest than traditionally expected.
Dara Fitzgerald, Chairman of the IAIM Retail Committee, said equity markets do rebound following such periods of uncertainty and this suggests that time is on the side of those SSIA investors contributing into equity-linked savings products.
