New Ireland Passive IRIS Fund 2013

Passive IRIS 2013 (6P) uses a lifestyle approach, so its mix of assets changes gradually over time. As retirement approaches, the fund shifts from a higher-risk asset mix toward a lower-risk, more stable mix. It invests across asset classes including equities, bonds, alternatives, property and cash. This is designed to help Passive IRIS 2013 (6P) grow and safeguard retirement savings.

Passive IRIS 2013 (6P) is primarily aimed at investors who want to invest in an Approved Retirement Fund at retirement. It is built around a chosen retirement year, in this case 2013, and is intended to match the investor's stage of life. The fund may suit someone looking for a medium to long-term investment, with at least 5-7 years. That time horizon gives the glide path time to move the portfolio toward a more defensive mix.

Passive IRIS 2013 (6P) is different because it is a lifecycle fund with a glide path that automatically changes the asset mix over time. Rather than keeping the same allocation, it becomes more defensive as retirement nears. It also follows an Article 8 approach, meaning it promotes environmental or social characteristics and invests in companies that follow good governance practices. The underlying investments do not use the EU definition of environmentally sustainable activities.

Passive IRIS 2013 (6P) is exposed to sustainability risks, which means events linked to environmental, social or governance issues could hurt the value of the assets it holds. The impact can be larger for equities and property than for bonds or alternatives. Because the fund invests across multiple asset classes and regions, diversification can help reduce the effect of a problem in one area. Securities lending may also be used in some underlying funds, which can add risk in exchange for the chance of extra return.

Passive IRIS 2013 (6P) is managed using State Street Investment Management as the underlying investment manager. That means the fund's underlying holdings are selected and maintained by that manager within the lifestyle framework. The fund is designed to follow a passive IRIS range approach rather than a stock-picking style. Investors should expect the strategy to be systematic and rules-based, with the asset mix evolving over time.