Friends First Home
compare funds  Send Link as email  Download PDF
Index Linked
Fund Snapshot
Launch Date 01/01/1984
Fund Manager BMO Global Asset Management
Risk Rating Risk Rating 4
Fund Type Asset Class Fixed Interest Fixed Interest
Diversification Diversification 2
Stocks & Holdings 17
Regions Covered Regions Covered 1
Fund Size €9.3M*
Latest Bid Price €6.1856 
Price Date 22/09/2017 

Fund Performance

Performance Line Graph

From     To expand graph

Fund Summary
The Index Linked Fund invests primarily in highly rated Eurozone inflation linked bonds. These bonds pay dividends which increase with inflation and can therefore be suitable for matching inflation linked liabilities. This Fund can perform well if interest rates are falling. In a rising interest rate environment, this Fund can produce negative results. The benchmark indices of this fund are the 50% Barclays Capital France Euro Govt EMU HICP All Maturities TR Index and 50% Barclays Capital Germany Euro Govt EMU HICP All Maturities TR Index. The inflation rate of the underlying securities will be linked to either local or to Eurozone inflation rates and this can vary from Irish inflation.

Market Commentary
Market Review

Eurozone index-linked bonds generated modestly positive returns over the quarter. Although eurozone inflation moderated to 1.3% in June, this initial reading was ahead of market expectations. It compared to the 1.4% rate reported for May, but a marked decline from the 1.9% registered in April. Lower energy prices were largely behind an overall decline in short-term eurozone inflation forecasts. At the same time, however, continuing strength in eurozone economic data supported the longer-term outlook for eurozone inflation to the upside. Towards quarter-end, European Central Bank (ECB) President Mario Draghi talked of "reflationary" pressures and a "firming and broadening" of the eurozone recovery. The ECB had also used its June meeting to update policy guidance on interest rates, eliminating its pledge to reduce rates further as needed.

Activity

The overall level of risk was broadly unchanged over the quarter. The manager retained a short duration stance and positioning to benefit from steepening in the yield curve as real yields continued to remain depressed, and which in their view, did not reflect the improvement in European economic data during the period.

Performance

The fund outperformed the benchmark over the quarter. This was a reflection of short positions in the long-end of the curve as real yields increased, amid an improving economic backdrop and growing talk of the ECB tapering its bond purchases.

METRICS: Mod Duration 8.69 Years, Average Maturity 9.07 years(30 June 2017)

Management Charge
0.75% pa of fund assets. Please refer to policy conditions for policy charges.

Geographical Split as at 30/06/2017

This fund should be considered as being a medium-long term investment. Access to your investment in this fund may in periods of adverse investment conditions be restricted for up to one month. Asset Information source: BMO Global Asset Management, unless otherwise stated. Performance figures are as per 'price date'. * Fund size refers to assets under management in underlying fund.

The returns shown include the reinvestment of net income and are net of trading costs and management fees but before other insurance contract charges and as such do not represent the returns on insurance contracts linked to these funds. Details of all charges for a particular product are available on request.

The information in this document does not constitute investment advice. It does not take into account the investment objectives, financial position or needs of any particular investor. Before making an investment decision, you should consult suitably qualified and independent investment, taxation, and regulatory advisors to discuss your specific situation and investment objectives. The investment strategies and risk profiles outlined in this document may not be suitable for your specific investment needs.

Warning: Past performance is not a reliable guide to future performance.
Warning: The value of your investment may go down as well as up.
Warning: Funds may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.



The information provided is intended for use by retail investment customers and is based on our understanding of current law and revenue practice.
Selected Funds
Fund Description Performance


From     To

expand graph     Add/Remove Fund

Fund Performance

Fund Performance To Date
Fund Description Fund 1 mth YTD 1YR 3YR p.a. 5YR p.a. 10YR p.a. Launch p.a

Warning: Past performance is not a reliable guide to future performance.
Warning: The value of your investment may go down as well as up.
Warning: Funds may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.

FUND WARNINGS:
  1. Performance Fees: The growth of the Insight Currency fund will be subject to a 20% monthly performance fee which only applies when the growth rate exceeds 7% p.a. The Market Neutral Equity fund will be subject to a performance fee of 10% of any growth achieved above cash returns (specifically 3-month EURIBID).
  2. The price protection on the Protected Equity+ Fund, Series 3 is provided by Deutsche Bank AG.
  3. Money invested in the Deposit fund is placed with one or more Banks. The payment of interest and security of capital is provided by the Bank(s). The Bank(s) and not Friends First are providing the security on the Deposit fund. Please refer to the Fund Factsheet.
  4. The property fund managers reserve the right to place a withdrawal limit or/and to defer encashment for up to six months or such time as is necessary to facilitate the sale of assets if required.
Fund Performance

Daily Fund Prices and Performance
Fund Name Bid Price Price Date 1Mth (%) YTD (%) 1Yr (%) 3Yrs (%) 5Yrs (%) 10Yrs (%) Since Launch (%)

You have selected the maximum number of funds (5)

Banner Banner

 

© Friends First, Friends First House, Cherrywood Business Park, Loughlinstown, Dublin 18
Friends First Life Assurance Company dac is regulated by the Central Bank of Ireland.
Friends First is part of Achmea