IRELAND - The average Irish pension managed fund was up 2.2% in January with help from a rallying stock market, according to the latest figures released by Mercer Investment Consulting.
According to Noel Collins, senior investment consultant at Mercer, stock markets have opened the year on a positive note, in spite of some significant weakness early in the first few weeks of the year. This has been viewed as an encouraging sign, especially as it sits on top of strong stock market performance in 2005, which helped the average managed fund return over 21%.
Over the last 12 months (end of January 2006) Eagle Star has led the table, returning 23.2%, followed by Standard Life with 23.1%. Davy and New Ireland have been the poorest performers over the period returning 15.1% and 17.3% respectively.
Over the five year period to the end of January, the average managed fund gained 2.8% with Bank of Ireland Asset Management performing the best (+4.3% p.a.) while KBCAM was the poorest performer over this period with +0.5%.
By Daniel Flatt
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point