New Ireland Retirement Fund (IRIS) 2038

The Retirement 2038 Fund (3) invests across a mix of asset classes, including equities, bonds, property, cash and alternatives. It also has exposure to shares in regions such as North America, Europe, Japan, the UK, emerging markets and Ireland. This broad spread is designed to help balance growth and protection as retirement approaches.

The Retirement 2038 Fund (3) follows a lifestyle glide path, which means it gradually moves money from a higher-risk growth approach in the earlier years into a medium to low risk strategy nearer retirement. This is intended to reduce the level of risk as the target retirement year of 2038 approaches. In simple terms, the fund becomes more cautious over time.

The Retirement 2038 Fund (3) is aimed primarily at pension investors who expect to take a retirement lump sum and invest in an Approved Retirement Fund, or ARF, at retirement. It is part of the IRIS lifestyle strategy and is built around a planned retirement year of 2038. The fund is therefore most relevant to investors who want a retirement-focused default-style approach rather than a stand-alone growth fund.

The Retirement 2038 Fund (3) is exposed to sustainability risks and short-term volatility. Short-term volatility means the fund's value can move up and down over shorter periods, even if it is intended for long-term investing. New Ireland also notes that investing should generally be considered over at least 5 to 7 years to help reduce the impact of these short-term swings.

The Retirement 2038 Fund (3) is managed by State Street Investment Management, previously State Street Global Advisors, together with Legal and General Investment Management (LGIM). The fund is part of the IRIS range and follows the lifestyle investment framework used for retirement planning. That structure is designed to grow and safeguard pension savings according to the expected year of retirement.