New Ireland Retirement Fund (IRIS) 2023

Retirement Fund 2023 (3) invests across equities, fixed income, property and cash as part of the IRIS lifestyle approach. The fund’s equity exposure is spread across regions including the U.K., North America, Europe, Japan, other Pacific Basin markets and emerging markets. As retirement gets closer, the fund gradually shifts away from higher-risk assets toward a more medium/low-risk mix.

Retirement Fund 2023 (3) is designed primarily for pension investors who expect to take a retirement lump sum and invest in an Approved Retirement Fund (ARF) at retirement. The IRIS strategy is built around an expected retirement year, so it is intended to match the investor’s time to retirement. It is most suitable for people looking for a medium to long-term approach to retirement saving.

Retirement Fund 2023 (3) follows a glide path, which means it automatically reduces risk over time by moving money from a higher-risk investment strategy to a medium/low-risk strategy. In practical terms, this aims to protect more of the retirement savings as the target retirement year approaches. This gradual switching is a core feature of the IRIS lifestyle strategy.

The main risks highlighted for Retirement Fund 2023 (3) include sustainability risks and the normal ups and downs of market values over time. Sustainability risk means investments may be affected by environmental, social or governance issues, which can influence how companies perform. Because the fund invests in markets that can move sharply, its value can rise or fall, even over the long term.

Retirement Fund 2023 (3) is managed by State Street Investment Management and Legal and General Investment Management (LGIM). The fund is part of the IRIS range, which uses a lifecycle structure to adjust risk over time. That combination is intended to provide a managed transition from growth-oriented assets toward a more cautious retirement position.