Friends First Home
compare funds  Send Link as email  Download PDF
Magnet Adventurous
Fund Snapshot
Launch Date 01/04/2010
Fund Manager Friends First
Risk Rating Risk Rating 6
Fund Type Asset Class Mixed Mixed
Diversification Diversification 4
Stocks & Holdings > 1000
Regions Covered Regions Covered 8
Fund Size €7.6m*
Latest Bid Price €1.5994 
Price Date 20/11/2017 

Fund Performance

Performance Line Graph

From     To expand graph

Fund Summary
Magnet Adventurous is a high risk fund which invests across a diversified range of assets. It has a high weighting in core growth assets such as equities, but also invests in alternative assets including property and commodities and alternative strategies to provide additional diversification and reduce volatility. The fund targets a volatility range of 15% to 25% over a rolling five year period. The underlying assets of the fund may change.

Market Commentary
Thus far 2017 has been defined by a synchronised rebound in global economic growth and remarkably positive market sentiment. Investors are seemingly impervious to the risk of political shocks: markets have continued to rally in the face of shifting monetary policy, building tensions between North Korea and the US and even terrorist attacks.

A cheaper dollar, strong corporate revenues and profit growth have helped secure double digit returns for US equities since the beginning of the year and a number of indices have reached new all-time highs. On the other side of the Atlantic, rapidly improving fundamentals and a brighter economic outlook have bolstered returns of European stocks.

All the funds in the Magnet range generated solid returns over the quarter, owing to a positive contribution from all strategies with the exception of the Explorer Emerging Market fund that posted a negative result over the period. The top performing fund was the Insight Currency fund that benefitted from some pronounced moves in the direction of the Dollar, the Euro and the Japanese Yen, specifically on the back of political events as well as fiscal and monetary policy announcements.

The commodities Optimum Yield fund also contributed positively to performance. Commodity prices appear to have bottomed out, prices are rising as demand is picking up faster than supply. Falling inventories have been supportive for the price of oil in particular. In Fixed Income the Magnet Cautious, Stable and Portfolio funds switched from European sovereign bonds into global bonds. Historically, global bonds have exhibited a low to negative correlation to global equities, thus providing a degree of protection in equity downturns. The increased de-synchronisation of interest rates policies across the main developed economic areas, means that policy divergence between global central banks may create diverse sources of return.

Of relevance is also the investment in the Physical Gold fund across all of the funds in the Magnet Range. Historically, Gold has exhibited very low or negative correlation to stocks, providing strong diversification benefits.

The challenge for investors is to reconcile the current optimistic market sentiment and benign global economic backdrop with considerable uncertainty in the outlook. Mounting geopolitical tensions, rising equity valuations particularly in the US and the forthcoming withdrawal of central bank balance sheet support, necessitate a cautious approach. Even at times of calm, it's important to remember the benefits of investing in a well-diversified portfolio. The key for achieving long-term investment objectives is a disciplined approach to asset allocation and portfolio construction that considers how each holding in the portfolio interacts with each other in terms of risk and correlation.

(30th Sept 2017)

Additional Information

Management Charge
0.95% pa of fund assets. Please refer to policy conditions for policy charges.

Asset Allocation as at 30/09/2017

Underlying Funds as at 30/09/2017

Fund Manager %
International Equity BMO 21.24%
Global High Yield Equity KBI 18.21%
Magnet European Equity Friends First 13.78%
Irish Commercial Friends First 11.08%
Explorer (Emerging Markets) LGM 9.14%
Indexed Global (Ex Euro) Equity SSgA 7.59%
Emerging Markets High Yield Equity KBI 6.05%
Optimum Yield Deutsche 4.95%
UK Select Friends First 3.95%
Insight Currency Alder 2.02%
Gold Deutsche 1.99%

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 six months. Performance figures are as per 'price date'. Asset Information source: Friends First, unless otherwise stated. * 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