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Indexed US Equity
Fund Snapshot
Launch Date 03/04/2013
Fund Manager State Street Global Advisors
Risk Rating Risk Rating 6
Fund Type Asset Class Regional Equity Regional Equity
Diversification Diversification 2
Stocks & Holdings 631
Regions Covered Regions Covered 1
Fund Size $1,307m*
Latest Bid Price €1.9584 
Price Date 22/05/2018 

Fund Performance

Performance Line Graph

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Fund Summary
The objective of this fund is to provide broad exposure to US Equity markets. It does so by aiming to track the performance of underlying indices rather than by active management. The fund is currently aiming to track the MSCI USA Index through an SSgA managed fundbut may elect to track other appropriate indices. The fund is expected to achieve strong returns in the longer term based on the performance of equity markets. This fund is also expected to be more volatile than a mixed asset fund given the higher equity content and is suited to a longer term investment horizon.

Market Commentary
In U.S. equity markets an aggressive selloff in the technology sector in March punctuated a volatile first quarter that witnessed sharp reversals in leadership as the quarter progressed. January in many respects looked to be an extension of 2017, with both large cap and growth stocks leading the way as the S&P 500 capped the strongest month of a 15 month run of gains. February, in contrast, saw a return of volatility that persisted through the end of the quarter. As the largest sector in the S&P 500, technology played an outsize role in both the early run up in the quarter and retesting of February lows in March. Facebook came in for particular punishment, falling 10.4% in March as it was revealed it had unwittingly provided personal data for up to 50 million users to a consulting firm, opening it up to regulatory scrutiny that could threaten its business model. Across styles in the quarter, after underperforming large cap shares by 7% in 2017, small cap shares proved more resilient in the first quarter, advancing 0.3% as large cap shares declined 0.7%. Small cap outperformance accelerated in March as announced tariffs and possible retaliation were seen as more threatening to large multinational firms than smaller domestically oriented firms. Growth continued to outperform value in the first quarter with the Russell 1000 Growth index gaining 1.4% against a 2.8% loss for the Russell 1000 Value Index.(31st March 2018)

Additional Information

Management Charge
0.65% pa of fund assets. Please refer to policy conditions for policy charges.

Sector Breakdown v Benchmark (MSCI USA) as at 31/03/2018

Sector Fund (%) Benchmark (%)
Information Technology 25.28 25.27%
Financials 14.59 14.59%
Health Care 13.33 13.33%
Consumer Discretionary 13.08 13.10%
Industrials 10 10.01%
Consumer Staples 7.44 7.44%
Energy 5.73 5.73%
Materials 2.94 2.94%
Real Estate 2.83 2.82%
Utilities 2.92 2.82%
Telecommunication 1.95 1.95%

Top 10 stocks as at 31/03/2018

Holding
APPLE INC 3.65%
MICROSOFT CORP 2.84%
AMAZON.COM 2.51%
FACEBOOK INC 1.72%
JP MORGAN CHASE 1.62%
JOHNSON & JOHNSON 1.46%
ALPHABET INC-CL C 1.36%
EXXON MOBIL CORP 1.34%
ALPHABET INC-CL A 1.32%
BANK OFAMERICA CORP 1.26%

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.

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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