New Ireland Elements
Managed Defensive (<35% Equity)
This fund invests in multiple asset classes globally. The assets may include equities, bonds (government and corporate), alternatives (e.g. commodities, high yield and emerging markets bonds, infrastructure), property and cash. The fund aims to provide a return of cash (measured as 1 month Euribor®) + 2.5% per annum over a rolling 5 year period before taxes and charges are deducted.
This fund aims to outperform cash (1-month EURIBOR) +2.5% p.a. over a rolling 5 year period (gross of tax and charges). It aims to deliver this return with lower risk than that experienced by traditional managed funds. The fund invests across a diversified range of assets and is designed to respond dynamically to risks that affect the value of these assets. It is important to understand that your investment may still fall as well as rise and that you may receive back less than you originally invested.
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147.10
EUR
+26.43 (+21.90%) past 3 year
as of 19 May 2026Cash
39.1
Equities
29.2
Government Bonds
18.8
Corporate Bonds
11.9
Commodities
1
Fund insights
Detailed information extracted from the fund factsheet.
Managed by State Street Investment Management
For some funds that invest in shares or bonds, the assets in that fund may be used for the purpose of securities lending in order to earn an additional return for the fund.
Manager commentary - March 2026
Global market equities sold off across all regions amid sharply rising energy costs following the escalation of hostilities between the US/Israel and Iran and the latter's broadening of the conflict to target Gulf neighbours. Precious metals were not immune to the selloff, with gold prices retreating from record highs. On the fixed income front, US Treasury yields rose as market volatility grew and markets speculated about the potential impact of higher energy prices on inflation and timing for any Federal Reserve rate cuts in 2026. Through the month, the team continued to reallocate away from growth assets, largely to cash.
- Desmond Lawrence, Senior Investment Strategist, State Street Investment ManagementFrequently asked questions
Common questions about New Ireland Elements.
Elements S3 R invests across multiple asset classes worldwide. Its portfolio may include equities, government and corporate bonds, alternatives such as commodities, high yield and emerging markets bonds, infrastructure, property and cash. This broad mix means the fund can move between different types of assets rather than relying on one market alone.
Elements S3 R aims to provide cash, measured as 1 month Euribor, plus 2.5% per year over a rolling 5-year period before taxes and charges. The fund uses an active approach, with State Street Investment Management as the underlying investment manager, to adjust the mix of assets over time. In March 2026, the team said it had been reallocating away from growth assets, largely to cash.
Elements S3 R is described as a low to medium risk fund and has a recommended holding period of at least 5 to 7 years. That suggests it may suit investors looking for a diversified, multi-asset portfolio with a medium to long-term horizon rather than a short-term trading product. The fund may still fluctuate in value because it holds a range of market-linked assets.
The key risk highlighted for Elements S3 R is sustainability risk, which means environmental, social or governance issues could affect the fund's investments and returns. Because the fund can invest globally across equities, bonds, property and alternatives, it may also be affected by movements in different markets and asset classes. Investors should be aware that the broad diversification does not remove the risk of losses.
New Ireland Elements
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