Irish pension funds delivered positive returns during July, with an average return of 3.6 per cent for the month according to Rubicon Investment Consulting.

Over the first seven months of 2012, the average fund return was 10.4 per cent and over the last year, average return levels reached 9.6 per cent.

During July, Friends First and F&C took top spot with a return of 4.2 per cent for the month. Over the first seven months of the year, the top performing fund was that of Standard Life Investments, which returned 12.9 per cent and the worst performing fund was that of Irish Life Investment Managers which delivered a return of 8.2 per cent.

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