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Pension funds fall back

IRISH pension managed funds fell slightly in August with an average return of -0.8pc for the month, according to new figures.

The negative return comes after the funds enjoyed a rally in July, when the average fund returned 2.2pc. This was the first increase after two consecutive declines in May and June.

Eagle Star/Zurich Life was the best performer in August, with a return of 0.2pc for the month.