2/12/2009
By Sophie Baker
Irish pension managed funds returned +1.1 per cent for November 2009, according to Hewitt's Managed Fund Index.
"The positive return is welcomed again after last month's negative return of -2.8 per cent, where markets fell back following seven consecutive positive monthly returns from March," commented Evelyn Ryder, director investment consulting at Hewitt Associates.
"The average Irish managed fund return year to date is +15.5 per cent. At this stage 2009 looks certain to be a double digit positive return clawing back some of the losses suffered in 2008 but still come way to go to recover get back to the positions funds were in the middle of 2007 when markets first started to slide."
Rubicon Investment Consulting also released its results for November 2009, with an average return of 1.3 per cent. The best performing manager was Eagle Star/Zurich Life, with 1.7 per cent, and the worse was Irish Life Investment Management at 0.9 per cent for the month.
The year to date returns are positive, with the average fund gaining 16.5 per cent.
Rubicon said, however, the average managed fund return is 'very disappointing', at -8.6 per cent per annum for the last three years.
