Crossing the Rubicon

The latest news and opinion from Rubicon Investment Consulting

A Mixed Bag for Irish Pension Funds in October

Irish pension managed funds experienced a somewhat lacklustre October, with a 0.1% loss on average over the month. Friends First/BMO and New Ireland turned in the best performances this month with returns of 0.3%, while Merrion Investment Managers delivered the worst, with a return of -0.9%.

Pension funds have enjoyed a very strong year so far, however, delivering 16.6% on average. Returns for the first ten months of 2019 ranged from 18.8% (Zurich Life) to 13.2% (Setanta Asset Management). Over the past twelve months the average fund return was 10.4%. Davy Asset Management top the table over the past year with a return of 12.7%, while Setanta Asset Management produced the lowest return at 8.5%.

The average managed fund return has been a healthy 7.6% per annum over the past three years. The five-year average return is strong, at 7.4% per annum. Irish group pension managed fund returns over the past ten years have been a robust 9.4% per annum on average.