Irish pension managed funds declined 0.8% on average during September. Davy Asset Management delivered the best performance this month with a return of 0.0%, while Zurich Life delivered the worst, with a return of -1.4%.

Irish pension managed funds enjoyed positive returns, of 2.5% on average, over the third quarter of 2020, consolidating their recovery from Covid-19 induced losses of the first quarter. The best return over the quarter came from Zurich Life’s Performance Fund, which delivered 4.5%, while the worst performer over the quarter was the New Ireland Pension Managed Fund at -0.3%.

Despite two consecutive quarters of gains, Irish pension managed funds have lost an average of 1.9% over the first nine months of 2020. 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 10.9%, while New Ireland’s underperformed the rest of the peer group, with a return of -13.2%. Over the past twelve months, Irish pension managed funds have delivered a 1.3% gain on average. Returns for the past year ranged from +12.1% (Merrion Investment Managers) to -9.4% (New Ireland).

The average managed fund return has been 4.8% per annum over the past three years. The five-year average return is 6.1% per annum. Irish group pension managed fund returns over the past ten years have been a healthy 8.3% per annum on average.