Crossing the Rubicon

The latest news and opinion from Rubicon Investment Consulting

March Misery for Irish Pension Managed Funds

Irish pension managed funds saw further declines during March, losing 1.9% on average over the month. Setanta Asset Management topped the table over the third month of the year, with a return of -0.2%, while New Ireland lagged the peer group over the month, with a return of -2.6%.

This miserable end to the quarter, coming on the back of February’s losses, left managed funds down 2.8% on average over the first three months of the year. Friends First/BMO lost the least ground over the first quarter, with a return of -2.2%, while New Ireland lost the most with a decline of 3.5%. Over the past twelve months, Irish pension managed funds have delivered just 0.4% on average. Returns for the past year ranged from 1.6% (Friends First/BMO) to -0.5% (Merrion Investment Managers).

The average managed fund return has been just 2.1% per annum over the past three years. The five-year average return is a much healthier 8.8% per annum. Irish group pension managed fund returns over the past ten years have been 6.4% per annum on average.