IRISH pension funds have risen by 12.3 per cent in the second quarter of 1997. This brings the growth so far this year to 19.8 per cent, according to a survey by Mercer, the actuaries and benefits consultants.

Of the 16 managed funds monitored in the survey, the top performer in the second quarter was Montgomery Govett with a 14.7 per cent gain, well ahead of the average 12.3 per cent. Second was Equitable Life with 14.3 per cent, and Eagle Star was third with 13.4 per cent. The worst was Norwich Union with 10.4 per cent.

ESB Fund Managers headed the list over a three year period with a growth of 23.2 per cent per annum, followed by Eagle Star with 22.3 per cent. The worst was Canada Life with 16.7 per cent.

Standard Life was best over a five year period with 18.1 per cent per annum, followed by Friends Provident with 18 per cent. The worst was Irish Life with 15.5 per cent.