Stock markets regained some lost ground in March, as central banks around the world maintained accommodative positions. A broader than expected package of measures was announced by the ECB, while a number of other banks cut interest rates. Even those countries which have started, or had been expected to start, tightening monetary policy appeared somewhat more doveish.
March was a strong month overall for Irish pension funds, which gained 1.3% on average. Setanta Asset Management ranked top this month with a return of 2.4%, while Merrion Investment Managers propped up the league table with a return of 0.0%. Despite this month’s gains, 2016 has been a gloomy year so far, with pension funds down 3.7% on average over the first quarter. Returns for the quarter ranged from -0.1% (Setanta Asset Management) to -7.0% (Merrion Investment Managers). Over the past twelve months, the average fund return was a disappointing -7.0%. Setanta Asset Management top the table over the past year with a return of -3.8%, while Merrion Investment Managers produced the lowest returns at -9.7%.
The average managed fund return has been a very strong 10.0% per annum over the past three years. The five-year average return is a healthy 9.8% per annum. Irish group pension managed fund returns over the past ten years have been 3.9% per annum on average.
The full table of results can be found over at our investment fund performance calculator.