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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 15
Regions Covered Regions Covered 1
Fund Size €12.7m*
Latest Bid Price €6.2824 
Price Date 22/05/2018 

Fund Performance

Performance Line Graph

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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 positive returns over the quarter, though underperformed conventional core eurozone bonds. Eurozone inflation slowed over the period, edging down to 1.1% year on year in February versus 1.3% in the prior month, as a reflection of the continued dampening impact on consumer prices from the earlier appreciation in the euro. While eurozone economic data remained generally buoyant, manufacturing and services survey data showed signs of slowing momentum. At the same time, comments from European Central Bank officials suggested they viewed the subdued nature of eurozone inflation as making the bank's quantitative easing policy as more likely to be extended beyond September.

Activity:

They fund entered the year with an underweight duration position, given the strong global economic backdrop and expectation that central banks would continue to remove monetary accommodation. The Fund Manager retained a short duration position as real yields remained depressed, despite the still robust economic backdrop.

Performance:

The fund performed in line with the benchmark over the quarter (0% vs 0%). This served to disguise some significant intra-period volatility, which saw gains at the start of the period following yield increases prior to a reversal later in the quarter.

METRICS: Mod Duration 8.55 Years, Yield = -0.09(31st March 2018)

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

Geographical Split as at 31/03/2018

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.

The funds referred to on this page may be linked to an insurance-based investment product and the Key Information Document (KID) for this product is available at www.friendsfirst.ie/kids. The Risk Ratings of the funds referred to in this document differ from the corresponding Summary Risk Indicators shown in the KID. An explanation of the differences between the Risk Rating and the Summary Risk Indicator is available at the location above.

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.

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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

The funds referred to on this page may be linked to an insurance-based investment product and the Key Information Document (KID) for this product is available at www.friendsfirst.ie/kids. The Risk Ratings of the funds referred to in this document differ from the corresponding Summary Risk Indicators shown in the KID. An explanation of the differences between the Risk Rating and the Summary Risk Indicator is available at the location above.

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 (%)
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