Irish pension funds fall in value from €51bn to €41bn

MANAGED Irish pension funds have lost10 billion this year, falling in value from €51 billion to €41 billion, Irish Association of Pension Funds (IAPF) chairman John O’Callaghan revealed yesterday.

Speaking at the IAPF southern region annual lunch, Mr O'Callaghan said that in the coming days the association would publish a detailed survey of Irish pension funds, which will show they have dropped in value by 20% losing 10bn alone this year.

AIB Group chief executive Michael Buckley, who was the keynote speaker, said his personal view was that there was an over 50% chance that we are facing into a long period of very low economic growth internationally.