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Protected Equity+ 3 Fund
Fund Snapshot
Launch Date 01/06/2010
Fund Manager BMO Global Asset Management
Risk Rating Risk Rating 4
Fund Type Asset Class Specialist Specialist
Diversification Diversification 4
Stocks & Holdings 2831
Regions Covered Regions Covered 5
Fund Size €69m*
Latest Bid Price €1.1846 
Price Date 19/01/2018 

Fund Performance

Performance Line Graph

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Fund Summary
This is a unit linked fund investing in international equities and cash. It provides dynamic asset allocation with daily rebalancing between asset classes. There is price protection in that the fund bid price cannot fall below 85% of its highest ever value. This fund is expected to be less volatile than an equity fund and hence the fund carries a medium risk profile.

Market Commentary
Protected Price PE+3 €1.0949.


The MSCI ACWI NDR (EUR terms) rose 1.5% in euro terms, 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.


In terms of geographical positioning, the fund manager retained overweight positions in Japan, Europe ex UK and emerging markets. For the UK, they maintained a neutral stance. Their allocation in Pacific ex Japan and the US remained underweight.

(30 Sept 2017)

Management Charge
1.35% pa of fund assets. Please refer to policy conditions for policy charges.

Asset Allocation as at 30/09/2017

Equity Geographical Split as at 30/09/2017

Top 10 Stocks as a % of Equities as at 30/09/2017

Holding Country % of Equities
Apple Inc United States 2.90%
JP Morgan Chase United States 1.77%
Cisco Systems United States 1.55%
Boeing United States 1.51%
Amgen Inc United States 1.47%
Home Depot United States 1.47%
United Health United States 1.44%
Wal-mart Stores United States 1.34%
Gilead Sciences United States 1.32%
Accenture United States 1.31%

Price Protection for PE+3 investors is provided by Deutsche Bank AG London branch (an investment bank with a current long term counterparty Standard and Poors rating of BBB+). In the event the price protection is called upon by Friends First, and Deutsche Bank, London Branch fails to pay Friends First then Friends First will not be responsible for making up any shortfall and the price protection will not apply. 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. If equity markets fall significantly, the fund could become 100% invested in cash. In this situation, the fund will then only earn cash rates of return. Asset Information source: BMO Ireland, 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
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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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