IRELAND - Irish managed pension funds continued to benefit from investor enthusiasm for global stocks over the three months to the end of March, according to a survey.
The Hewitt Managed Fund index, an indicator of Irish managed pension fund performance, returned 6.2% for the quarter.
This is in contrast to a loss of 5.4% for the first quarter of last year as stock markets plunged to their lowest point since the dot com fallout in 2001.
Over the month, the index, which measures the performance of 23 funds, was up 5.8% and 35.3% over the year since last March.
The equity component of Irish managed funds typically tracks the FTSE All World Developed Index and accounts for an estimated 70% of portfolios.
During the financial crisis, they came under fire for this quasi-passive approach but there has not been much to suggest that this approach will change.
Hewitt Associates investment consultant Brian Delaney says that the performance of Irish managed pension funds will be largely dependent on how investors react to "the withdrawal of liquidity measures by governments and central banks".
Noting China and India's recent moves to reduce liquidity in an effort to curb inflation, he said: "There will also be continued focus on the debt of the weaker European countries."
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.