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Irish funds record huge 2008 losses
A turbulent 2008 took its toll on Irish pension funds, with recorded losses of €27bn as managed funds declined by 34.8 per cent, according to Rubicon Investment Consulting. Leading a dismal set of results was Setanta Asset Management, with a return of -29.6 per cent, and Hibernian Investment Managers was the worst performing manager with a return of -38.8 per cent. Rubicon has ...
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Irish DC funds given option to defer annuity purchase
A new option for members of defined contribution (DC) occupational pension schemes which will defer the purchase of a retirement annuity for a specified two-year period has been announced by Ireland’s Minister for Finance, Brian Lenihan. Under current provisions, member of DC schemes are obliged to purchase an annuity immediately upon retirement with their pension fund, after ...
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Sarasin carves way into Irish market
The UK subsidiary of the Sarasin Group in Switzerland has its new offices in Dublin, and business operations have begun with immediate effect. The National Gallery in Dublin will host the official launch event of the office on 19 November ...
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Irish pension funds lose third of value
Irish pension funds have lost a third of their value in just 12 months, falling by 33.4 per cent, according to investment consultant Rubicon. In October 2008 alone, Irish pension managed funds fell by 9.2 per cent on average, with the best performance coming from Eagle Star at -8.5 per cent. Irish Life Investment Managers delivered the poorest returns, with -10.5 per cent. So far in ...
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Irish market opens up to China
The Irish funds market has opened its doors to Chinese investors in a move by the Irish Funds Industry Association (IFIA). The Irish financial regulator, IFSRA, signed a Memorandum of Understanding one Thursday 23 October with the China Securities Regulatory Commission (CSRC) and the China Banking Regulatory Commission (CBRC), its Chinese counterparts. This will enable Chinese investors ...
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Zurich Ireland outperforms market despite slump in new Life Insurance business
The Irish branch of Zurich (Eagle Star Life) has revealed that for the six months ending June 2008 it has outperformed the market, with Pensions Annual Premium new business of €47.4 million. The same period in 2007 saw figures of €42.8 million, 11 per cent less than the current situation. This outperformed the market average of zero per cent for regular premium business. ...
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Pioneer Investments plans to break into Irish market
Pioneer Investments has revealed that it is to enter the Irish Institutional Market, launching its institutional business in Ireland as part of the company’s ongoing growth strategy. The business will be led by Dave Santry as head of institutional business development, Ireland, and will be supported by Kate Parker, vice president of institutional sales in the UK and Ireland. Paul ...
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Hewitt reports negative Irish returns
survey. The return was the same as the average manager in the survey, and although continuing market volatility has resulted in a wide dispersion of returns, a year to date the difference between the top and bottom performing manager was 5.4 per cent over the seven months. Canada Life/Setanta was the best performing manager over the month at -1.1 per cent, yet their return over the ...
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LCP expands into Ireland
Consulting actuaries Lane Clark & Peacock (LCP) has furthered its international expansion with the establishment of offices in Ireland following the merger with HLD Actuarial Consultants (HLD), creating Lane Clark & Peacock Ireland. The Ireland office follows the opening of the Netherlands office last month, and joins LCP’s presence in the UK, Belgium and Switzerland. Based ...
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Irish pension funds feel the pinch as returns tumble
Irish pension funds fell by 1.3% in 2007, the Irish Association of Pension Funds’ (IAPF) annual asset allocation survey has revealed, bringing assets down to €86.6bn at the end of 2007 from €87.7 at the end of 2006. Despite recent falls, however, the total value of assets managed by Irish pension funds has almost doubled from €44.8bn in the five years since the end ...
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Note of caution for Ireland’s trustees
Irish pension funds lost €10 billion in the first three weeks of 2008, according to figures released from Mercer. This news follows a particularly poor year for Irish funds which, despite a strong first half, saw them suffer a €4bn loss in value, with the average pension fund losing close to 4%. Mercer, however, warned funds against taking any ';rash decisions'; in ...
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Compulsion not the answer in Ireland
Butchers, florists and hairdressers in Ireland would be more inclined to set up a pension if the monetary benefits were simplified in the current voluntary system rather than through the introduction of mandatory pensions, according to a new ...
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Irish cruise past Wales in rugby cup warmup
DUBLIN (Reuters) -- Ireland began their rugby union World Cup buildup with a comfortable 35-12 victory over an inexperienced Welsh side on Saturday, outscoring the visitors by five tries to two. The home side never found top gear, but were too strong for an experimental Welsh lineup featuring six uncapped players in their 22-man squad. "These games have been called friendlies, and ...
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Irish jockey Kelly dies from head injuries
DUBLIN (Reuters) -- Leading Irish jump jockey Kieran Kelly died in hospital Tuesday after suffering severe head injuries in a fall last week, the Irish Turf Club said Wednesday. The jockey, aged 25, had been on a life support machine in a ublin hospital since the accident at the Kilbeggan Races in Westmeath last Friday. He sustained severe injuries when Balmy Native came down in the Joe ...
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Hard to stay optimistic living in Hatch Hall
Hatch Hall , those trying to "keep busy" and those tired of trying. Many have spent years in the asylum system, living on EUR19.10 a week (it's EUR9.60 for children), not allowed to work or study and subject to movement or deportation at short ...
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Rich Americans Scooping Up Irish Estates
John Malone is among a growing number of Americans returning to their Irish roots and scooping up mansions and castles after the worst real-estate crash in western ...
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“For most people who have chemo it’s no big deal” says man who sails around Ireland between bouts of chemotherapy
Chris Egan and David Bevan, who have both battled cancer, plotting a course for their round Ireland trip aboard the Inizi in aid of cancer ...
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Time limit a key issue arising from health committee hearings on abortion
Dr Eamonn Moloney, consultant psychiatrist, Cork University Hospital; Prof Veronica O'Keane, consultant psychiatrist, Tallaght Hospital and TCD; and Dr Yolande Ferguson, consultant psychiatrist, Tallaght Hospital, attending Monday's hearing of the Oireachtas health committee. Photograph: Gareth ...
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Shatter’s mistake in the Wallace saga was purely political
Minister for Justice Alan Shatter at this week's citizenship ceremony at the Convention Centre, Dublin. "Shatter was seen initially (and still sees himself) as an energetic and reforming Minister but his style and personality in office have depleted his political capital." Photograph: Bryan ...
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Living in Hatch Hall
Hatch Hall , those trying to "keep busy" and those tired of trying. Many have spent years in the asylum system, living on EUR19.10 a week (it's EUR9.60 for children), not allowed to work or study and subject to movement or deportation at short ...
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Political system tied up in trivia ignores the most serious issues
The propensity of the Irish political system to tie itself up in knots over arcane or even trivial issues, while gliding over serious matters that have a vital bearing on the country's wellbeing, has again been in evidence over the past few ...
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A hazel tide ebbing and flowing
On its way to the shore the boreen tilts down beside a creggan, a sandstone outcrop like a last, rocky toenail of the mountain. Abruptly steep beside the lane, the ridge sometimes offers a wild silhouette between me and the morning clouds: a sitting hare, a wind-blown ewe with a mane like a wild Apache. And couched in the slope between rock and fence - an old one, tilting and bound with ...
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ASTI and TUI seek further talks on improving Haddington Road deal
Taoiseach Enda Kenny: "Those unions who have now agreed with the Haddington Road statement will have those agreements honoured, and those unions that do not will be subject to legislation." Photograph: Julien Behal/PA ...
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A rock pool for life to cling to
We are combating new threats of coastal erosion and flooding by armouring our shores. We do this mostly with gabions, those increasingly familiar conglomerations of cut rock or manufactured blocks, bound together with wire ...
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Towards a deal on public pay
Securing voluntary agreement from public service workers for savings amounting to EUR1billion over three years was never going to be easy. And so it has proved. A majority of union members rejected the terms of a renegotiated Croke Park deal last month and risked statutory cuts to pay and pensions, along with widespread industrial unrest. Rather than blunder into immediate confrontation, ...
In-Depth Dublin
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Dublin and Cork are finally linked by motorway
The National Transport authority recently announced to Dublin news media that upgrades to the final stretch of motorway between Cork and Dublin will be opened in 2010, brining to completion a massive infrastructure investment.
The massive upgrade of 250 kilometers of motorway and highway between Dublin and Cork is almost complete, linking the capital with the second largest city in the country. Read more
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