Crossing the Rubicon

The latest news and opinion from Rubicon Investment Consulting

A Bleak Month for Irish Pension Managed Funds

Irish pension managed funds fell dramatically during February 2020, losing 5.5% on average over the month, as fears surrounding the spread of the coronavirus hit stock markets. Merrion Investment Managers topped the table this month, with a return of -3.2%, while Setanta Asset Management lagged the peer group over the month, with a decline of 6.5%.

February’s losses wiped out January’s weak gains, meaning managed funds have fallen 5.2% on average over the first two months of the year. Merrion Investment Managers lost the least ground over the year to date, with a decline of 1.0%, while New Ireland fared the worst with a return of -8.7%. Over the past twelve months, Irish pension managed funds have delivered a gain of 5.5% on average. Returns for the past year ranged from 8.8% (Davy Asset Management and Merrion Investment Managers) to -0.2% (Setanta Asset Management).

The average managed fund return has been somewhat disappointing at 4.1% per annum over the past three years. The five-year average return is a lacklustre 4.0% per annum. Irish group pension managed fund returns over the past ten years have been a more robust 8.5% per annum on average.