IFG has said that its group performance is on track and its core businesses are performing well despite the challenging economic conditions.

In an interim management statement, the financial services group said market conditions are difficult in Ireland as the economy remains depressed.

But it said it was encouraged by the new client wins within its corporate pensions business and the extension of its individual advisory offering.

It said its two main businesses in the UK - the James Hay Partnership and Saunderson House - continue to make progress