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Irish pension funds down 34% in 2008 | Print |  Email
Wednesday, 07 January 2009

 



Irish managed pension funds slumped 34% last year after falling by another 2% in December, according to the latest figures from consulting group Hewitt Associates .
Irish pension funds have borne the brunt of the collapse in Irish equity values, Hewitt said, particularly financial stocks, which contributed to a 65% decline in the ISEQ in 2008. The Irish stock market lost over €60bn in value last year and experienced its worst annual decline since its inception back in 1793.
The average Irish pension fund had a weighting of 15pc in Irish equities at the start of 2008, and had declined to 7% by year's end, according to Hewitt.
 




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