No growth for Irish pension funds

THE value of Irish pension funds remained flat over the last three months, according to figures published yesterday.

Mercer Investment Consulting’s quarterly survey of pension funds found that the average fund had recorded zero growth in the third quarter and was ahead by just 5.3% in the first nine months of the year.

Mercer said it had been a difficult quarter for stock markets, with oil price rises hurting confidence and adverse currency movements diminishing returns for investors based in the euro area.