Irish pension funds recorded a strong performance in April, with the average managed fund producing a 1.6 per cent return, the highest so far in 2007.
Funds were boosted by rising global stock markets - at least outside Japan. The end-month blip on the back of concerns over the Spanish property market only marginally dented the out-turn.
While the weak dollar has impacted on the US and Asian stock returns, Irish pension funds benefited last month from falling bond prices which cut the cost of annuities.
On the back of the strong monthly performance, the average Irish managed fund is now 2.8 per cent ahead so far this year. Standard Life was the strongest performer in both categories, up 2.1 per cent on the month and 4.2 per cent in the year to date. Oppenheim's 1.1 per cent monthly gain lagged its peers while Bank of Ireland Asset Management's 1.6 per cent four-month return puts it well behind - further bad news in a week when it emerged that BIAM continues to suffer from the exodus of experienced staff.
Over the last 12 months, Irish funds have gained 10.3 per cent on average, with the strongest - Standard Life and AIB Investment Managers - providing returns of 13.2 per cent, almost double the 6.8 per cent delivered by Canada Life/Setanta.
Standard Life's strength in recent years means it is the top performing fund manager over the three and five-year terms as well. Over three years, its 16 per cent annual growth is matched only by AIBIM compared with an average of 14.5 per cent and a trailing 11.9 per cent from BIAM.
For the last five years, its 8.9 per cent annualised return puts it just ahead of Eagle Star (8.8 per cent) compared to an average of 7.6 per cent and KBC's underperforming 6.2 per cent.
Oppenheim continues to dominate in the long-term and 10-year period with average annual growth of 11.2, well clear of its nearest rival, Eagle Star.
