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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 €297m *
Latest Bid Price €0.6783 
Price Date 20/11/2017 

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
The Deutsche Bank Liquid Commodity index Optimum Yield Balanced strategy (+4.6%) outperformed the Bloomberg Commodity index (+2.2%) by a wider margin in the third quarter, helped by its relatively stronger weighting towards several top performers, including Heating Oil (+12.6% subindex) and Aluminium (+8.8% subindex). The Bloomberg Index also suffered comparatively because of negative performance in Copper (-4.3% subindex) and Natural Gas (-10.2% subindex), two commodities which are not represented at all in the Deutsche Index. The strongest contributors to OY index performance were WTI Crude, Heating Oil and Aluminium. For WTI Crude, we see medium term fundamentals on a steady footing, although recent outperformance may be partly attributable to supply risks which could dissipate. Aluminium markets have been supported by greater Chinese supply side reforms and robust demand which we believe will result in market deficits through 2019. (30th Sept 2017)

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

Sector Allocation as at 30/09/2017

Commodity Split as at 30/09/2017

Commodity
Gold 13.03%
RBOB Gasoline 8.69%
Brent Crude Oil 8.36%
Heating Oil 8.28%
WTI Crude Oil 8.07%
Zinc 7.39%
Wheat 7.24%
Copper 7.17%
Soybeans 7.05%
Aluminium 6.92%
Corn 6.63%
Sugar 4.88%
Natural Gas 3.37%
Silver 2.92%

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.

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

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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