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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 €7.8m*
Latest Bid Price €1.665 
Price Date 22/05/2018 

Fund Performance

Performance Line Graph

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Fund Summary
The objective of the fund is to target a risk level which is aligned with the European Securities and Markets Authority Risk rating of 5. This means that its objective is to maximise returns whilst keeping the fund's five year annualised volatility within a range of 15% to 25% per annum. The fund aims to achieve higher than average capital growth over the longer term at the risk of significant short-term volatility.

Market Commentary
Market volatility resurfaced in the first quarter of 2018 following the steady rise of markets in the previous year as global equities posted their first quarterly decline in two years.

Expectations that Facebook and Amazon could face additional privacy-driven regulatory scrutiny rattled investors' confidence and the sector's volatile performance dragged down the broad indices because of technology's substantial weight.

The biggest Macroeconomic development during the quarter was the growing threat of a trade war. In late March, Trump's plan to impose tariffs on $60bn worth of Chinese goods weighed heavily on investor sentiment causing a sharp drop in global equity markets.

The economic backdrop in the Eurozone remained encouraging over the three months: GDP growth for 2017 was confirmed at 0.6% quarter-on-quarter and unemployment was stable at 8.6% in January. Nonetheless, European markets fell sharply as other economic surveys pointed to slower future growth. ECB chairman Mario Draghi reiterated that interest rates would not rise until well past the end of the quantitative easing programme.

Emerging markets equities registered a positive return in local terms in the first quarter despite a rise in market volatility stemming from tensions over global trade but a weaker Dollar (-2% versus the Euro over the quarter) negatively impacted Euro returns for the asset class.

US Treasury yields rose markedly over the quarter as expectations of growth, inflation and interest rates shifted higher causing bond prices to fall. As expected, the Federal Reserve increased rates by a quarter of a percentage point. It did not, however, alter its overall rate projection of three hikes for 2018. Corporate bonds also posted a negative return in the first quarter, while emerging market bonds were the only bright spot in the Fixed Income universe as local currency sovereign bonds made strong total returns.

Commodities posted a modest negative return in Q1. This was attributable to weakness from industrial metals amid rising global trade tensions and concern that further escalation could impact demand. Conversely, precious metals, Gold in particular, delivered positive returns.

Contribution to performance from individual strategies in the Magnet Range of funds was broadly negative in line with market movements as outlined above. Equities were the main drag on performance, while Property, UK property in particular, gained over the same period positively contributing to returns.

During the quarter we added the M&G Emerging Market Debt Bond Fund: on a risk-adjusted basis, emerging market bonds currently offer higher yields than comparable bonds from more developed countries. Also, Emerging Market bonds may provide further diversification benefits to the Fixed Income exposure as interest rate cycles are de-synchronised from Developed Market economies.

(31st March 2018)

Additional Information

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

Asset Allocation as at 31/03/2018

Underlying Funds as at 31/03/2018

Fund Manager %
International Equity BMO 25.72%
Global High Yield Equity KBI 22.11%
Magnet European Equity Friends First 13.93%
Irish Commercial Friends First 11.19%
Explorer (Emerging Markets) LGM 9.31%
Emerging Markets High Yield Equity KBI 6.15%
UK Select Friends First 4.07%
Insight Currency Alder 3.47%
Gold Deutsche 2.03%
Optimum Yield Deutsche 2.02%

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.

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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