Pension returns flat in November

THE average Irish Pension Managed Fund return was flat in November, according to the latest figures released by Mercer Investment Consulting. The average fund however has performed quite well so far this year with a return of 9.2% over the 11 months to the end of November.

“The FTSE World Equity Index was down 1.1% in € terms during November with the FTSE Japan the worst performing index in € terms (-3.2%). Of course, much of this is due to the weakness in some major foreign currencies, especially the dollar and yen. As the ISEQ was again the strongest performer returning +1.1% this was a major help for Irish funds given that on average funds have 18% of their assets in the Irish market,” said Mercer senior investment consultant Noel Collins.

AIBIM is the best performer over one year to the end of November 2006. Eagle Star is the best performer over three and five years while Oppenheim is the best performer over 10 years.