The warm weather enjoyed in June was not reflected in the performance of Irish pension managed funds, which fell back 0.6% on average. Davy Asset Management took top spot this month with a return of 0.2%, while Merrion Investment Managers propped up the league table with a loss of 1.6%.

Over the second quarter of the year, Irish pension funds gained ground, with the average fund returning 4.1%. Zurich Life delivered the best return over the quarter, at 5.7%, while New Ireland trailed the peer group, returning 2.5% over the past three months. Thanks to a strong second quarter, Irish pension funds are in the black for 2018, with funds rising 1.2% on average over the first six months. Returns for the year to date ranged from 2.4% (Zurich Life) to -1.1% (New Ireland). Over the past twelve months the average fund return was 5.5%. Zurich Life top the table over the past year with a return of 7.0%, while New Ireland produced the lowest return at 3.4%.

The average managed fund return has been 4.5% per annum over the past three years. The five-year average return is a robust 9.7% per annum. Irish group pension managed fund returns over the past ten years have been 7.2% per annum on average.