Following on from the worst quarterly losses in over a decade in Q1, markets rallied strongly during the second quarter to recover much of their Covid-19 induced losses. Irish pension managed funds gained 13.5% on average during the three months to the end of June. Merrion Investment Managers topped the table over the quarter, with a return of 19.5%, while Setanta Asset Management lagged the peer group with a return of 9.8%.
This strong quarterly performance came as June rounded out three consecutive months of gains. On average, Irish pension managed funds returned 1.9% during June, with returns ranging from 3.7% (Merrion Investment Managers) to 1.2% (Setanta Asset Management). Over the first half of 2020, Irish pension managed funds have lost an average of 4.4%. This headline figure conceals a wide range of returns, however. Of the funds surveyed, Merrion Investment Managers’ delivered the best performance over the year to date, with a return of 7.2%, while New Ireland’s underperformed the rest of the peer group, with a return of -13.0%. Over the past twelve months, Irish pension managed funds have delivered a 2.4% gain on average. Returns for the past year ranged from +11.7% (Merrion Investment Managers) to -6.8% (New Ireland and Setanta Asset Management).
The average managed fund return has been 4.4% per annum over the past three years. The five-year average return is a modest 4.2% per annum. Irish group pension managed fund returns over the past ten years, however, have been a rather healthier 8.3% 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.