New Ireland Retirement Fund (IRIS) 2024

Retirement Fund 2024 (3) is an IRIS lifestyle fund that invests across a mix of equities, fixed income, property, cash and multi-asset holdings. Its sector exposure includes corporate bonds, government bonds, high yield bonds, alternative investments, infrastructure and commodities, with equity exposure spread across the UK, Europe, North America, Japan, the Pacific Basin and emerging markets. The fund is designed to balance growth and capital protection as retirement approaches.

Retirement Fund 2024 (3) follows a glide path, meaning it gradually shifts from a higher-risk investment approach in the earlier years to a medium/low-risk approach as retirement nears. This is intended to help reduce the impact of short-term market swings as the target retirement date approaches. In practice, the fund is built to be more growth-oriented at first and more defensive later.

Retirement Fund 2024 (3) is aimed primarily at pension investors who expect to take a retirement lump sum and move into an Approved Retirement Fund (ARF) at retirement. It is part of the IRIS lifestyle range, which is structured around an investor's expected retirement year. The fund is intended for people investing over the medium to long term rather than for short-term needs.

Retirement Fund 2024 (3) carries risks including sustainability risk, currency exchange rate risk, short-term volatility and securities lending risk. Currency exchange rate risk means foreign investments can gain or lose value when exchange rates move, even if the underlying shares or bonds do not. Securities lending can add return potential, but it also increases risk if the borrower fails to return the assets as agreed.

Retirement Fund 2024 (3) is managed by State Street Investment Management and Legal & General Investment Management (LGIM). The fund uses a multi-manager approach within the IRIS range to implement its lifestyle strategy. That supports the fund's aim of gradually adjusting risk as the investor moves toward retirement.