Irish pension funds returned 0.5% on average during September. Merrion Investment Managers topped the league table with a gain of 1.2%, while Friends First/BMO lagged the peer group with a return of -0.3%.

Three consecutive months of positive average returns mean that managed funds gained a respectable 3.2% over the third quarter, on average. Davy Asset Management turned in the best quarterly performance with a gain of 4.5%, while Merrion Investment Managers delivered the worst, with a gain of 2.1%.

The first nine months of 2018 have seen pension funds gain 4.5% on average. This figure masks a range of performances, however, as returns for the year to date ranged from 6.7% (Zurich Life) to 1.7% (New Ireland). Over the past twelve months the average fund return was 7.6%. Davy Asset Management top the table over the past year with a return of 10.6%, while Merrion Investment Managers produced the lowest return at 4.5%.

The average managed fund return has been a healthy 7.9% per annum over the past three years. The five-year average return is a robust 9.6% per annum. Irish group pension managed fund returns over the past ten years have been a compelling 8.5% per annum on average.