Pension funds rise by 12% to €62.5bn

PENSION funds increased in value by 12% last year to €62.3 billion, according to a new survey from the Irish Association of Pension Funds (IAPF).

The IAPF survey of asset allocation found the value of funds rose because of the “positive market environment” and inflows to support the solvency of pension funds.

“The 2004 asset allocation survey revealed some interesting trends. In recent years IAPF have seen a steady increase in funds moving to passive management,” said IAPF investment committee member Fiona Daly.