As the Covid-19 pandemic swept across the world, resulting in drastic and unprecedented restrictions on much of the world’s population, stock markets fell dramatically during March. Irish pension managed funds declined 11.2% on average over the month. Davy Asset Management topped the table over the month, with a return of -8.8%, while New Ireland lagged the peer group with a return of -13.6% in March.
Coming on the heels of coronavirus-related declines in February, March’s losses have pushed Irish pension managed funds to their worst single quarterly return since the financial crisis. Irish pension managed funds lost an average of 15.8% in the first quarter of 2020. Merrion Investment Managers lost the least ground over the quarter, with a return of -10.3%, while New Ireland declined the most, with a return of -21.1%. Over the past twelve months, Irish pension managed funds have delivered an 8.1% loss on average. Returns for the past year ranged from -3.1% (Davy Asset Management) to -14.3% (Setanta Asset Management).
The average managed fund return has been -0.2% per annum over the past three years. The five-year average return is just 1.0% per annum. Irish group pension managed fund returns over the past ten years have been a somewhat healthier 6.6% per annum on average.
The full table of results can be found over at our investment fund performance calculator.
Please note: The returns quoted are those experienced by a specific peer group of active balanced managed funds which are used by many pension schemes. Details of these funds can be found on our calculator help page. These returns may be viewed as a rough proxy for the performance of Irish pension funds in the “growth” stage; however, they do not necessarily equate to the experience of the pensions market as a whole, or of any specific pension scheme or member. Nor do they necessarily reflect the relative performance of the investment managers in relation to their broader offerings. These figures are provided for information only and do not constitute investment advice. You should always seek independent financial advice before making any investment decisions.