Global mergers and continuing strong equity performances in key markets have helped to produce a 6 per cent rise in the value of the average managed fund in the first quarter of 1999. Research by actuary and consultant, Mercer, shows that Acorn Life, formerly known as NZI Life, was the top performing Irish fund, achieving a 7.9 per cent return in the three-month period.
It was followed by Ulster Bank, with returns of 7.3 per cent and Equitable Life, which recorded a 7.1 per cent investment gain. The worst investment performance in the first quarter was recorded by Guardian Life and Montgomery Oppenheim, which both achieved 4.4 per cent growth.
Over the 12-month period to the end of March, Ulster Bank moves into the lead, returning 9.6 per cent, while AIB Investment Managers and New Ireland are joint second at 8.6 per cent.
Over the 12 months, the average return from a managed fund was 5 per cent. The weakest performance in this category was from Montgomery Oppenheim which showed a loss of 1.5 per cent.
The best measure of pension performance is over the longer term. Over five years, the average return was 17.9 per cent, with Eagle Star ahead of its competitors - achieving gains of 20.9 per cent.
The worst performer over five years was the Canada Life Consensus fund, with returns of 14.5 per cent.
