Irish retirement investments got back on track in February, with managed pension funds delivering an average return of 1.4 per cent.

Although equity market performances were muted last month due to concerns surrounding the global recovery, the weak euro boosted the value of returns from overseas markets, according to pension consultants Mercer.

This modest gain last month marks an improvement from the weak performance in the opening month of 2010, which saw pension funds decline by an average of 1.2 per cent.