With an average return of -2.0%, Irish pension managed funds declined further during September.

According to Rubinoc Investment Consulting, Merrion Investment Management had the best return with -1.0%, while Irish Life Investment Managers’ -2.8% was the worst.

Managed funds have suffered an 8.8% loss on average over the third quarter of 2011, with returns ranging from -5.7% (Setanta Asset Management) to -11.7% (Irish Life Investment Managers).

Over the first nine months of the year, managed funds declined 10.2%. Returns over this period ranged from a high of -6.6% (Setanta Asset Management) to a low of -11.8% (Irish Life Investment Managers). Over the past twelve months the average fund returned -5.1%. Returns for the past year ranged from -3.0% (Setanta Asset Management) to -8.5% (Irish Life Investment Managers), Rubinoc said.

The average managed fund return has been 0.6% per annum over the last three years, while the five year returns to the end of September are all negative, with an average of -3.9% a year. Irish group pension managed fund returns over the past ten years have been 1.5% per annum on average, below the Irish inflation rate of 2.2% per annum over the same time horizon.

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