IRELAND - Irish pension managed funds for the first seven months of this year have dropped an average of 17.2%, latest figures reveal.
The survey found that although continuing volatility in the market resulted in a wide dispersion of returns, the difference in returns between the top and bottom performing manager was 5.4% over the seven months.
Investment consulting director Evelyn Ryder said: "Irish fund managers holding over 10% of their portfolios in Irish stocks would not have helped, with the Irish market down 16% over the month of July."
The results also found Setanta Asset Management was the best performing manager over the month with a return of -1.1%.
Meanwhile Hibernian Investment Managers delivered the worst performance in July declining 3.3%.
The research concluded that so far this year, pension funds were well in the red, by 16.9% on average, and Irish pension funds had lost almost more than a fifth (20.6%) of their value over the past twelve months.
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