The Managed Fund invests in a range of international and domestic equities, bonds, property and cash. The predominant asset is equities as the fund aims to achieve strong returns over the longer term. However, this can lead to volatility in the fund's performance shorter term and it is therefore suitable for the medium to longer term investor. The benchmark is a hybrid benchmark consisting of 70% MSCI All Countries World Index Total Return in EUR, 24% Barclays Global Aggregate (hedged to EUR) Total Return in EUR, 6% Barclays Euro Aggregate Treasury AAA-AA 5+ years TR
MarketThe fund's mixed benchmark, 70% MSCI ACWI NDR (EUR terms), 24% Barclays Global Aggregate (hedged to EUR) NDR in EUR & 6% Barclays Euro Aggregate AAA-AA 5+ years TR Index, rose by 1.1% with further appreciation in the euro versus major currencies holding back returns for eurozone-based investors. Overall, economic data pointed to acceleration for the US economy, backed by rising consumer and business spending. In September, however, the destructive impact of hurricanes Harvey and Irma led economists to downgrade US third-quarter growth projections. The eurozone economy remained in recovery mode, with inflation also surprising on the upside in August as energy prices recovered. Brent oil futures rose from around $48 to $57 per barrel as the dynamics of supply and demand swung in oil's favour. Risk assets largely shrugged off rising geopolitical tensions following missile and nuclear weapons tests by North Korea. ActivityIn terms of positioning, at the asset class level the fund manager reduced exposure in fixed income and retained an underweight position. The emphasis on equities relative to fixed income was slightly increased and they continue to be overweight equities. Geographically, they maintained overweights in Japan, Europe ex UK and emerging markets. The allocation in Pacific ex Japan and the US remained underweight and they continue to have a neutral stance in the UK. PerformanceThe fund outperformed its benchmark over the quarter (1.3% vs 1.1%). The underweight fixed income position added value as did the overweight position in equities given the general strength across the global economy. Within equities, the overweight position in Japan contributed positively while positive contributions also came from overweight positions in Europe and emerging markets. (30 Sept 2017)
0.75% pa of fund assets. Please refer to policy conditions for policy charges.
Asset Allocation as at 30/09/2017
Top 10 Stocks as at 30/09/2017
Ford Motor Co
Lowe's Cos Inc
United Health Group
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.
Fund Performance To Date
Fund 1 mth
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.
Performance Fees: The growth of the Insight Currency fund will be subject to a 20% monthly performance fee
only applies when the growth rate exceeds 7% p.a. The Market Neutral Equity fund will be subject to a
fee of 10% of any growth achieved above cash returns (specifically 3-month EURIBID).
The price protection on the Protected Equity+ Fund, Series 3 is provided by Deutsche Bank AG.
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
fund. Please refer to the Fund Factsheet.
The property fund managers reserve the right to place a withdrawal limit or/and to defer encashment for up
six months or such time as is necessary to facilitate the sale of assets if required.