Irish pension funds lose €27 billion during 2008 as managed funds decline 34.8%
Jan 6th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish pension funds experienced a turbulent year during 2008. As the global economy moved towards recession, equity markets across the world went into freefall. Irish pension funds lost an estimated €27 billion over the past twelve months, as the average managed fund declined by 34.8%. Setanta Asset Management was the best performing manager, with a return of -29.6%. Meanwhile, Hibernian Investment Managers propped up the league table with losses of 38.8%.