Irish managed funds gain 2.1% over July
Written by Natalie Tuck
Irish managed pension funds made an average gain of 2.1 per cent over July, according to Rubicon Investment Consulting.
The best performers over the month were Davy Asset Management and New Ireland, both with returns of 2.6 per cent. Merrion Investment Managers had the worst performance with a return of 1.6 per cent.
Pension funds have gained 3.4 per cent on average over the first seven months of the year. Returns for the year to date ranged from 4.6 per cent (Davy Asset Management) to 1.5 per cent (New Ireland).
Over the past twelve months the average fund return was 8.5 per cent. Davy Asset Management top the table over the past year with a return of 10.1 per cent, while New Ireland produced the lowest return at 6.7 per cent.
The average managed fund return has been 4.5 per cent per annum over the past three years. The five-year average return is a robust 9.6 per cent per annum. Irish group pension managed fund returns over the past ten years have been a respectable 7.6 per cent per annum on average.