Irish Pensions: €15 billion wiped off the value of Irish Managed Funds in 2008 as recession strikes
Jul 2nd, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Irish Pensions: Fears of a global recession sent equity markets into freefall last month. As a result, Irish pension managed funds declined 7.8% on average, wiping out their recent gains. In fact, all of these funds are now valued at less than they were at the end of 2005. So far this year, over €15 billion has been wiped off the value of the Irish pension market.