Pension funds show 11% returns

IRISH pension funds finally saw an upturn in fortunes in the second quarter of the year, by showing combined returns of 11.4% — between €5 billion and €6bn — according to latest figures.

While the healthy return was mostly down to the recovery in equity markets since the end of March, fund managers are still being warned against over-weighting their funds with equity investments. Equity markets have recovered by between 30% and 40% since the end of March.