Strange, but I don't recall seeing the press release from Bank of Ireland outlining the performance of its pooled with property pension fund in the UK last year. Whether it has anything to do with the bank coming last of the 67 funds in performance terms, I wouldn't know.

Bank of Ireland's mixed with property fund in the UK produced a return on only 10.5 per cent, just about half of the median 21 per cent. Mind you, only 23 of the 67 funds beat that average with the top fund producing returns of 154.2 per cent. Bank of Ireland was in good company with some of the giants of the fund management industry finding themselves among the 10 poorest performers, including Phillips & Drew, Scottish Equitable, Standard Life and Legal & General.