Fund Return 2018-2019

Fund return to 30 November 2018


Fund

Performance

 

1 month

Scheme Year to Date

1 Year

 

 

 

CERS Multi Asset Fund

0.6%

-0.4%

0.9%

CERS Bond Fund

0.3%

-0.6%

-1.0%

CERS Cash Fund

-0.1%

-0.4%

-0.8%

CERS Equity Fund

1.6%

-1.7%

0.9%

CERS Property Fund

0.2 %

3.3%

6.2%

CERS Alternative Asset Fund

-0.4%

0.0%

-2.1%


Investment Commentary


Provided by Mercer - CERS Investment Adviser

Market Developments

October finished as the worst month for global equities since 2012, with all major markets closing lower over the month. This was driven by investor concern that corporate earnings had peaked for the cycle, while ongoing geopolitical risks continued to dampen investor sentiment. The technology sector was hit particularly badly, with the NASDAQ composite down c.7% in the first 2 weeks of October. Many analysts are pointing some of the blame at rising US bond yields. Following increased optimism in the US economy’s strength, the US 10 year government bond yields soared to a seven year high of 3.23%. 

 

Economic Data

In the US, the labour market continued to show strength with the unemployment rate remaining unchanged since September and at its lowest level since 1969 (3.7%). There is a positive growth outlook in the US as inflation is expected to be contained at around 2%. There are some indications that the Eurozone may be slowing down with gross domestic product falling to 0.2% in Q3, down from 0.4% in Q2 and missing market expectations of 0.4%. The Consumer Price Index in the Euro Area rose 2.2% year-over-year in October, above the 2.1% reading in September and in line with expectations.


NOTES

Scheme Year to date performance is the period from 1 June 2018 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  info@milestoneadvisory.ie  or call them on 01 4068020. Their website is  www.milestoneadvisory.ie .

If you require further information please contact the CERS Team at  info@cers.ie



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