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New Ireland Managed
Fund Snapshot
Launch Date 13/01/1997
Fund Manager State Street Global Advisors
Risk Rating Risk Rating 5
Fund Type Asset Class Mixed Mixed
Diversification Diversification 4
Stocks & Holdings 1 fund
Regions Covered Regions Covered 5
Fund Size €1,311M *
Latest Bid Price €4.3146 
Price Date 22/09/2017 

Fund Performance

Performance Line Graph

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Fund Summary
This fund has investments in a broad range of Irish and international company shares, government securities, top quality corporate debt and cash. The investment analysts research the major investment markets for stocks which meet this basic criteria.

Market Commentary
The second quarter of 2017 was a broadly positive period for the world's stock markets - in local currency terms. The outcome for euro-based investors was not as upbeat as a resurgent euro eroded much if not all of the gain. So while the FTSE World Index achieved a 3-month gain of 3.1% in local currency terms, that translated to a negative return of -2.1% in euro terms. Much of the quarter's narrative was coloured by political events, although central banks also had a significant influence on financial markets through the three months.

Equity markets, in general, continued their strong run with emerging markets (EM) again outperforming: in US dollar terms, the MSCI Emerging Market Index was up 6.3% (although this translated to a negative return of -0.4% in EUR). Strength in EM occurred despite further political turmoil in Brazil, while the announcement by MSCI on 21st June that it would include China A shares in its benchmark EM index helped bolster returns. Among developed markets, the US S&P 500 Index gained 2.6%, Japan's Nikkei was up 6% and Ireland's ISEQ was ahead by 2.5%. German, French and UK markets were flat for the quarter.

Bond performance was mixed through the quarter. Having performed well through much of the quarter, there was a notable sell-off in the final days of June as investors reacted to indications from the European Central Bank that a normalisation of monetary policy could soon commence. In the euro area, German bunds were hard hit as the yield on its 10-year bond rose 22 basis points to 0.47% in the last five days of June; at the start of Q2, the yield was 0.33%. Peripheral eurozone bonds did better, which reflected improving economies and the successful management of bank bailouts in Spain and Italy. Italy 10-year bond yields fell from 2.32% to 2.16% in the quarter. With Irish unemployment at a nine-year low of 6.3% and economic growth the best in Europe, Irish 10-year yields ended June at 0.90%, up 12 basis points in June, but down from 1.00% in the quarter. The reversal of fortunes was not restricted to eurozone bonds either. UK gilts were weaker on the uncertain election outcome and as a pick-up in inflation and a slide in sterling unsettled markets. US bonds were relatively stronger even as the Federal Reserve hiked rates in June.

(30th June 2017)

Management Charge
1.0% pa of fund assets. Please refer to policy conditions for policy charges.

Asset Split as at 30/06/2017

Geographical Split as at 30/06/2017

Top 10 Stocks as at 30/06/2017

Deutsche Bank
JPM Chase
Wells Fargo

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: Asset Information source: SSgA, unless otherwise stated. State Street Global Advisors Ireland Limited is regulated by the Central Bank of Ireland. 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.
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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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