New Ireland Pension Funds

Multi-manager approach with flexible IRIS lifecycle strategies

New Ireland Assurance, part of Bank of Ireland Group, uses a multi-manager investment approach - selecting specialist external managers for each asset class. Their IRIS and Passive IRIS lifecycle strategies provide automatic de-risking with flexibility to choose risk levels and retirement targets.

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Funds tracked

Risk Rating Scale

New Ireland classifies funds into seven risk categories, from very low risk (1) to very high risk (7). This categorisation is determined by New Ireland to help investors understand the risks to their investment. In general, the greater the potential return on an investment, the greater the risk involved.

The majority of investors are categorised in risk category 3 and risk category 4. Within these categories, New Ireland provides choice through Alpha fund variants, which offer a different risk-return focus (greater focus on risk management for a smoother investment journey, versus greater focus on return potential).

New Ireland reserves the right to review risk categorisation at any time. Separately, EU legislation requires a risk indicator to be shown in Fund Information Sheets, which may differ from New Ireland’s own risk category.

About New Ireland

Key Considerations

Multi-manager diversification: iFunds blend 25+ global investment managers within each fund
Choice of lifecycle strategy: Active (IRIS) or Passive (Passive IRIS, Article 8) - both automatically de-risk as retirement approaches. Article 8 means the fund actively promotes environmental or social characteristics under EU regulation
Six risk-rated multi-asset funds: iFunds 3 through Equities cover all risk levels
Alpha variants available: Within the same risk level, choose between a risk management focus or a return focus
Ethical Managed Fund: Article 8 fund with exclusions covering defence, fossil fuels, tobacco, and other sectors
Broker-distributed: Professional financial advice is part of the model
Passive IRIS is target-date: Single-fund lifecycle product that handles all transitions automatically

Investment Approach

New Ireland's investment approach centres on multi-manager diversification:

Multi-manager, multi-asset (iFunds): BOIIM's dedicated Multi-Manager team selects and blends multiple specialist managers within each fund. Fundhouse (UK specialists) provides investment consultancy. Active management predominates, with passive index-linked funds used where appropriate.

Rigorous process: Fund selection → ongoing monitoring → review cycles covering asset allocation, component funds, and investment managers. Managers can be replaced if performance or conviction deteriorates.

Breadth: Relationships with 25+ global investment managers provide genuine diversification of management styles and approaches within a single fund.

Fund Range

Where shown, the SFDR column indicates each fund's EU sustainability classification: Article 8 funds promote environmental or social characteristics, while Article 9 funds have sustainable investment as their primary objective.

iFunds Range (Multi-Manager, Multi-Asset)

Fund	Risk Category	Focus	Notes
iFunds 3	Low to Medium	Bonds-focused, some equities/property/alternatives	Standard diversified
iFunds 3 Alpha	Low to Medium	Greater risk management focus	European property, private equity exposure
iFunds 4	Medium	Balanced equities/bonds/property/alternatives	Standard diversified
iFunds 4 Alpha	Medium	Greater return focus	European property, private equity exposure
iFunds 5	Medium to High	Equity-heavy with bonds/property/alternatives	Standard diversified
iFunds Equities	High	100% equities across regions/sectors	Equity only

Component managers (across iFunds 3/4/5):

Equities: Arrowstreet, Driehaus, Dodge & Cox, LA Capital, Schroder, State Street Passive US, Walter Scott
Bonds: M&G, JP Morgan, PIMCO, State Street
Alternatives: Fulcrum (absolute return), JSS (commodity transition), State Street (gold)
Property: Direct commercial (Ireland, UK, Europe)

Standalone Funds

ESG / Responsible Investment

ESG (Environmental, Social, and Governance) is a framework for evaluating companies on climate impact, working conditions, and corporate ethics - alongside traditional financial metrics. ESG integration is fund-specific rather than entity-wide:

Ethical Managed Fund (Article 8):

Negative and norms-based screening on equities
Exclusions: defence, human rights violators, contraceptives/abortifacients, stem cell research, harmful environmental activities, tobacco, pornography, animal testing for cosmetics, fossil fuels
State Street governance scorecard: board independence, diversity, experience, executive compensation, tax compliance
Considers PAI: fossil fuel exposure, biodiversity-sensitive areas, controversial weapons

Passive IRIS (Article 8):

ESG factors integrated into the strategy
State Street Investment Management as underlying manager

State Street governance: SSGA (now State Street Investment Management) is a UN PRI signatory (since 2012).

Charges

Standard charges are agreed between the investor and their financial broker. Additional charges apply to the iFunds range:

Fund	Additional Charge
iFunds 3	0.10% p.a.
iFunds 3 Alpha	0.10% p.a.
iFunds 4	0.15% p.a.
iFunds 4 Alpha	0.15% p.a.
iFunds 5	0.15% p.a.
iFunds Equities	0.20% p.a.

Page content last reviewed 13 July 2026. Fund performance data is updated daily.

Frequently asked questions about New Ireland pensions

iFunds are New Ireland's flagship multi-manager, multi-asset funds. Each fund blends investments from over 25 global managers into a single portfolio. They come in standard versions and Alpha variants - the standard versions prioritise growth exposure while Alpha variants focus on risk management.

New Ireland offers dual lifecycle strategies: IRIS (active, managed by State Street and LGIM) and Passive IRIS (passive, Article 8, managed by State Street). Passive IRIS has four phases: Growth (10+ years to retirement), Consolidating (5–10 years), Approaching Retirement (final 5 years), and Year of Retirement.

IRIS is an actively managed lifecycle strategy using State Street and LGIM. Passive IRIS is a passively managed alternative classified as Article 8 under SFDR. Both use a target-date structure, but Passive IRIS offers lower ongoing costs and an ESG-aligned approach.

iFunds carry an additional charge on top of the base AMC agreed with your broker. The additional charges are: 0.10% for iFunds 3 and 3 Alpha, 0.15% for iFunds 4, 4 Alpha, and 5, and 0.20% for iFunds Equities.

Yes. New Ireland's Ethical Managed Fund is classified as Article 8 under SFDR. It excludes companies involved in defence, human rights violations, tobacco, fossil fuels, pornography, animal testing, and stem cell research.

New Ireland provides the my.newireland.ie customer portal for policy management and the MyPension365 portal for employer administration. They also publish service standards for response times.

New Ireland products are distributed exclusively through financial brokers. They are a subsidiary of Bank of Ireland Group, with investment strategy managed by Bank of Ireland Investment Managers (BOIIM).