Bank of Ireland Life North American

North American (Series 2) invests in the State Street US Value Spotlight Fund, which in turn invests mainly in equities from the United States. The fund is actively managed and is focused on long-term capital growth. Its underlying holdings include companies such as Alphabet, Microsoft, Amazon and Merck & Co.

North American (Series 2) is described as suitable for a medium to long-term investment horizon of at least 5-7 years. The fund aims to deliver long-term capital growth rather than short-term income. Investors should be comfortable with the ups and downs that can come with equity investing.

North American (Series 2) is classified by Bank of Ireland Life as High Risk. That reflects its focus on equities, which can rise and fall in value more sharply than some other asset types. It also carries sustainability risk, meaning environmental, social or governance issues could affect how the underlying companies perform.

North American (Series 2) invests in the State Street US Value Spotlight Fund, managed by State Street Investment Management. This underlying fund is the vehicle that actually holds the US equity portfolio. The structure means investors get exposure to the underlying manager’s stock selection approach through the North American (Series 2) wrapper.

The information provided says that some funds holding shares or bonds may use securities lending to earn extra return, and that this can increase risk. For North American (Series 2), this means there may be additional risk if the underlying fund uses that practice. Securities lending means the fund temporarily lends out investments to others in exchange for a fee.