Irish Life Investment Managers has introduced a new Eurozone Equity Fund for corporate pension fund investments. The fund is being set up to reflect the switch in investment focus from the domestic market to the European markets following the introduction of the euro.

It is designed as an indexed fund which will track the Dow Jones Euro Stock Index, measuring performance of equities in the euro zone area. It will include 324 stocks, allowing a wide spread across industry sectors and stocks. Given the spread of stocks, the fund should reduce stock-specific risk for investors.