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Pension funds up 20pc

Irish pension funds gained 20.7pc in 2009, according to a recent survey.

The Hewitt Managed Fund Index, an indicator of Irish pension's performance, revealed that 2009 had been a good year for Irish managed pension funds.

The performance of pensions improved significantly over the balance of the year after falling 8pc in the first 10 weeks of 2009, as global equity markets rebounded. Irish pensions have gained 28pc since the March lows, though still have a long way to go to recover to the position that funds held in the middle of 2007.