New figures show that Irish pension managed funds recovered some of their recent losses last month with an average return of 4.9% for October.
According to the figures from Rubicon investment consulting, Kleinwort Benson Investors put in the best performance last month with a return of 6%, while Aviva Investors came last with a return of just over 3.5%.
Despite last month's gains, managed funds ae down 5.8% over the first ten months of 2011. Returns over this period ranged from a high of -2/6% from Setanta Asset Management to a low of -7.4% from Merrion Investment Managers.
Rubicon says that the average managed fund return has been a ''healthy'' 5.6% a year over the last three years, but the five year returns are all negative.
It added that Irish fund returns over the past ten years have been a ''disappointing'' 1.6% a year on average, below the Irish inflation rate of 2.2% a year over the same time.
