Pension funds fall almost 2.5% despite late rally

THE value of Irish pension funds fell by 2.45% in 2011 despite a strong late rally in December.

The Aon Hewitt Managed Fund Index, an indicator of the performance of the average Irish pension fund, increased by 3.21% in December.

However it fell by 2.45% overall in the year, affected by considerable volatility in investor sentiment, particularly for the eurozone area.