Irish Life Multi-Manager Target Return

Multi-Manager Target Return Fund Series P invests in a selection of external funds chosen by Irish Life Investment Managers, plus listed infrastructure equities. It also has an allocation to ILIM’s Equity Options Strategy, which uses derivatives for efficient portfolio management purposes. The external funds can hold a wide range of assets and use different investment approaches.

Multi-Manager Target Return Fund Series P is actively managed by Irish Life Investment Managers. ILIM selects the underlying external funds and also runs the listed infrastructure equity allocation and the Equity Options Strategy. That means the portfolio mix can change over time based on ILIM’s decisions.

Multi-Manager Target Return Fund Series P aims to deliver a return of 4% per annum over cash, measured over a rolling four-year period. In plain language, that means it is designed to try to beat cash by about 4% a year on average over four years, rather than every year in a straight line. Investors should understand that this is a target, not a guarantee.

The main listed risk for Multi-Manager Target Return Fund Series P is currency exchange rates. Currency risk means the fund’s value can move up or down when assets are bought in different currencies and exchange rates change. The fund may also use derivatives and securities lending, both of which can add risk even though they are used with the aim of improving portfolio efficiency or returns.

Multi-Manager Target Return Fund Series P may suit investors who want a diversified, actively managed fund with exposure to several external managers, listed infrastructure equities, and an options-based strategy. The fund is built to target cash plus 4% over a rolling four-year period, so it is aimed at investors seeking a return objective rather than a traditional equity or bond benchmark. The fund may also be subject to incentive fees.