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Commodity Optimum Yield
Fund Snapshot
Launch Date 03/04/2013
Fund Manager Deutsche AM
Risk Rating Risk Rating 5
Fund Type Asset Class Commodities Commodities
Diversification Diversification 3
Stocks & Holdings 14
Regions Covered Regions Covered 5
Fund Size €379m *
Latest Bid Price €0.7278 
Price Date 22/05/2018 

Fund Performance

Performance Line Graph

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Fund Summary
The objective of this fund is to invest in a fund that provides exposure to a broad range of commodities. Currently the fund invests in the Optimum Yield Balanced Index which provides a balanced exposure to 14 liquid commodities from the commodity sectors Energy, Precious Meals, Base metals and Agriculture. The strategy is rules based and the mix is rebalanced annually. The strategy seeks to optimise the roll of commodity futures contracts. The fund may elect to track other appropriate indices.

Market Commentary
Commodity indices failed to continue their successes from 2017, and saw a sluggish start to 2018, with concerns regarding protectionism impacting global trade, as well as faltering physical market conditions and faltering growth momentum in China. DBLCI OY Balanced grew 0.73% over the period, with Energy and Agriculture generally outperforming the other commodity sectors. The standout performers of 2018 Q1 were Soy Meal, at 21.21%, followed by Unleaded Gasoline, which returned 12.52%. On the other side of the spectrum, sugar experienced significant reductions, falling 18.54% over the period. Strong demand for the year from China, India and the US supported Crude prices, with WTI and Brent up 7.48% and 3.69% respectively. Industrial metals saw a mixed bag, but generally negative, with Aluminium significantly underperforming, with China's supply-side reforms dominating the market over recent times, with the Chinese market creating significant surpluses. Nickel was the only metal in the sector that witnessed positive performance, largely driven by the influx of investments into electric vehicles and the use of nickel in their batteries. (31st March 2018)

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

Sector Allocation as at 31/03/2018

Commodity Split as at 31/03/2018

Commodity
Gold 14.04%
WTI Crude Oil 8.79%
Brent Crude Oil 8.30%
Heating Oil 8.17%
Corn 7.79%
RBOB Gasoline 7.76%
Soybeans 7.68%
Wheat 7.19%
Sugar 6.34%
Zinc 6.11%
Copper 5.81%
Aluminium 5.59%
Silver 3.27%
Natural Gas 3.16%

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: Deutsche Asset Management. 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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