50pc of pension funds behind inflation

Half of Irish pension funds looked at in a new survey have failed to beat the rate of inflation over the past decade. Average returns over the past ten years were a disappointing 4.1 pc per annum, just 0.4 pc ahead of the average annual inflation rate of 3.7 pc in the same period.
In the short term, having declined 6.7 pc during January, funds continued to struggle during February, with the average fund declining a further 1.3 pc over the month. Standard Life Investments were the best performing manager over the month with a return of minus 0.3 pc, while Friends First/F&C delivered the weakest performance over the month, declining 2.6 pc.
Irish pension funds have now lost 10.5 pc of their value over the past twelve months.

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