Irish pension managed funds have succeeded in another consecutive month of positive returns, according to both Hewitt Associates and Rubicon.

Hewitt's Managed Fund Index, which is an indicator of Irish Pension Managed Fund performance, recorded 11.4 per cent for the quarter ending 30 June 2009, with a 0.5 per cent return for June alone.

"The average Irish managed fund returned +11.4 per cent over the past three months and is now +5.8 per cent for the year to date," commented Brian Delaney, investment consultant at Hewitt Associates.

"Despite the severity of this global financial crisis and a continuing stream of negative economic data, the past six months have been positive for Irish Pension Funds. Financial markets are showing signs of stabilising, at least in the short-term, and international equity markets are reflecting this improvement in sentiment."

Rubicon reported that the returns on their records were 0.1 per cent on average, although several managers delivered negative returns. The best performance came from Standard Life Investments at 0.7 per cent, while Irish Life Investment Managers returned just -0.6 per cent for the month of June.

Over Q2 of 2009, the average fund returned 11.3 per cent, and Merrion Investment Managers headed up the table with a return of 14.8 per cent. AIB Investment Managers was the worst performing over the quarter, although positive, at 8.6 per cent.

Hewitt's Delaney added that the economic crisis is far from over: "Continued uncertainty remains about the extent and timing of a sustained recovery. Equity markets have advanced 30-40 per cent from their March lows and now require firm evidence of improving economic fundamentals in order to support the recent rally and sustain any advance from here."

Share Story: