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Fund Snapshot
Launch Date 01/01/1984
Fund Manager BMO Global Asset Management
Risk Rating Risk Rating 5
Fund Type Asset Class Mixed Mixed
Diversification Diversification 4
Stocks & Holdings 993
Regions Covered Regions Covered 5
Fund Size €334M*
Latest Bid Price €19.4504 
Price Date 22/09/2017 

Fund Performance

Performance Line Graph

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Fund Summary
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

Market Commentary

The 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, declined by 1.4% with an appreciation in the euro versus other major currencies adversely impacting returns for eurozone-based investors (6.2% versus the US dollar). The Federal Reserve increased interest rates to 1.25%, while also outlining plans to reduce the size of its balance sheet. This was despite some weaker readings from the US economy, including slower inflation. Elsewhere, the European Central Bank signalled it was becoming more confident on the outlook, viewing less need for monetary easing. On the political front, there was some good news as the triumph of centrist candidate Emmanuel Macron in the French presidential election was viewed as reducing risk across the eurozone. In the UK, however, June's snap general election resulted in a hung parliament, leaving the government appearing weak as it faces the challenges of Brexit negotiations.


In terms of geographical positioning, the fund manager increased the overweight position in emerging markets and maintained an overweight position in Japan. The overweights in direct Irish and European equities were reduced, and they increased their position in fixed income. For the UK, the fund manager reduced the underweight position. Allocation in Pacific ex-Japan was increased but still remains underweight.


The underlying fund outperformed its benchmark over the quarter (-0.8% vs -1.4%). In asset allocation terms, an overweight in equities versus bonds detracted modestly from performance. Within equities, our overweight positions in Europe ex UK and underweight in the US contributed positively, as did the Irish equity position. (30 June 2017)

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

Asset Allocation as at 30/06/2017

Top 10 Stocks as at 30/06/2017

Holding Country Weighting %
Apple USA 1.90%
Wal-mart USA 1.32%
Amgen USA 1.23%
Ford Motor Co USA 1.10%
Lowe's USA 1.00%
United Health USA 0.99%
Citigroup USA 0.97%
Cisco Systems USA 0.88%
CRH Plc Ireland 0.87%
Ryanair Holdings Plc Ireland 0.84%

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

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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

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.

  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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