Outlook good as pension funds shoot ahead by 9%

PENSION funds have shot ahead by 9% in the first six months of the year, one of the country’s biggest fund managers said yesterday.

Irish Life Investment Managers, which manages assets worth more than €22 billion, said that pension funds had delivered solid returns so far and that the outlook for the rest of the year was good.

Its mid-year report, which was published yesterday, said equities and property would remain the best investments and would deliver better returns than cash or bonds.