Fund Return 2017-2018

Fund return to 30 April 2018




1 month

Scheme Year to Date

1 Year




CERS Multi Asset Fund




CERS Bond Fund




CERS Cash Fund




CERS Equity Fund




CERS Property Fund

-0.1 %



CERS Alternative Asset Fund




Investment Commentary

Provided by Mercer - CERS Investment Adviser

Market developments

April was a positive month for risky assets, following the broad sell off seen in February and March. Equity market volatility remained at higher levels than those seen throughout 2017.

In fixed income markets, yields rose with the US 10-year bond rising above 3% for the first time since December 2013.

In commodity markets, energy and metals rallied whilst agriculture sold off.

In currency markets, the US dollar appreciated c1.8% against the Euro.


Economic data

The global economy remains in good shape, despite some signs of slowing from the rapid rate seen at the start of the year.

In the US, the unemployment rate for April fell to 3.9% (lowest since late 2000). In addition, US business confidence remained at high levels.

In the Eurozone, consumer and business confidence surveys retreated from record highs, however they remain at high levels. The April unemployment rate fell to 8.5%, the lowest since 2009.

In the UK, economic data was satisfactory, although consumer confidence continued to fall as Brexit uncertainty persisted. The UK unemployment rate fell to 4.2%, the lowest in 40 years.

In Japan, leading economic indicators improved. In addition, we saw a pick-up in wage growth which may at last be a sign of inflationary pressures from the tight labour market.

In China, inflation fell slightly whilst growth indicators remained at strong levels.

Elsewhere in Emerging Markets, we saw a continuation of economic strength.


Scheme Year to date performance is the period from 1 June 2017 to the most recent month shown.

1 Year performance is the cumulative performance of the last 12 months to the most recent month shown.

Multi Asset Fund performance assumes no lifestyling.

Performance shown is net of annual management charge.

The investment choices offered by the Trustee will be regularly reviewed and may be varied from time to time.

Before you choose a fund we recommend that you speak to an Independent Financial Adviser.The CERS Trustee preferred Independent Financial Adviser is Milestone Advisory DAC.  You can contact them or your own independent financial adviser to assist you to review your investment choices.  You can contact Milestone Advisory DAC at Canal House, Canal Road, Dublin 6, at or call them on 01 4068020. Their website is

If you require further information please contact the CERS Team at

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