Growth in Irish pension funds

Dublin: Irish pension funds grew in the third quarter following strong equity returns, a survey by Hewitt Associates shows.

The Hewitt Managed Index, an index of traditional managed pension funds, increased by 3.2% over the quarter. The index has gained 5.8% since the start of the year.

The S&P 500 rose by 8.8% over the month, its strongest September since 1939, though the weakening dollar during the month dampened returns for euro-based investors. The euro gained 6.4% on the dollar in September. In euro terms, the eurozone equity market outperformed other regions, returning 5.4% over the month.