The GBP Conservative Fund is a Great British Pound denominated fund employing an active asset allocation strategy and a passive investment management strategy invested 65% in income assets (international fixed interest and cash and cash equivalents), with 35% exposure to growth assets (international equities and listed property).

 

Investment Objectives

The fund seeks to track composite indices (before annual fund charge and tax), comprising 10% Markit iBoxx GBP Liquid Investment Grade Ultrashort Index; 55% Bloomberg Global Aggregate Corporate Index, 100% hedged to GBP; 5% FTSE EPRA/NAREIT UK Index; and 30% MSCI World ESG Screened Net GBP.


Investment Managers

The table below sets out the target asset allocation and underlying investment managers for the Fund.

For more information you can access the Funds Statement of Investment Objectives and Policy (SIPO).

Asset Class

Investment Manager

 Product Name Benchmark Asset Allocation 1

Cash and cash equivalents

BlackRock Asset Management Ireland Limited

iShares GBP Ultrashort Bond UCITS ETF

 10%

International fixed interest

 BlackRock Asset Management Ireland Limited iShares ESG Screened Global Corporate Bond Index Fund Class D 55%

Listed property

 BlackRock Asset Management Ireland Limited iShares UK Property UCITS ETF 5%

International equities

 BlackRock Asset Management Ireland Limited iShares Developed World ESG Screened Index Fund Class D 30%
Total assets 100%

 

1 The Benchmark Asset Allocation, Maximum, Currency Hedging and Operating ranges are set out in the SIPO.

 

Fund Performance

Please find below the latest performance figures for the GBP Conservative Fund as at 31 October 2024.  The returns are after fees and taxes:

 

PIR Tax Rate

Month

Quarter

12-months

3-Year

5-Year

Inception

28%

-0.72%

0.66%

13.11%

-0.77%

0.43%

1.37%

0%

-0.62%

0.95%

14.39%

0.33%

1.54%

2.47%

* GBP Conservative Fund was established on 24 December 2018

* Returns for periods longer than one year are annualised

 

The chart below shows the fund return after fund charges and tax (at 28%) for each full calendar year the fund has been in existence. The last bar shows the performance of the current calendar year to date (1 January 2024 to 31 October 2024):