Irish pension funds hit by Eurozone debt crisis in May with returns down 3% in month
Jun 1st, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Recent weeks have been difficult for investors and Irish pension funds, as the sovereign debt crisis in the Eurozone region has weighed heavily on stock markets. European equities fell over 5% during the month, whilst the ISEQ index was down -13.1%. These are sobering numbers, especially considering that it was in early May that the EU announced the mammoth €750bn support package. Pension fund returns fell 3% in the month.