Fund Return 2018-2019

Fund return to 31 August 2018


Fund

Performance

 

1 month

Scheme Year to Date

1 Year

 

 

 

CERS Multi Asset Fund

1.4%

2.5%

7.0%

CERS Bond Fund

-0.3%

-0.2%

0.4%

CERS Cash Fund

-0.1%

-0.2%

-0.8%

CERS Equity Fund

0.9%

2.6%

11.3%

CERS Property Fund

1.7 %

2.9%

5.6%

CERS Alternative Asset Fund

3.2%

3.4%

1.4%


Investment Commentary


Provided by Mercer - CERS Investment Adviser

Market developments

Developed market equities posted positive returns in August driven by a rally in defensive sectors and the US. Global trade tensions continued to unnerve markets. Emerging market equities and debt underperformed significantly, especially in US Dollar terms. Emerging market currencies dropped sharply with significant falls in the value of the Argentinian peso and the Turkish Lira, which depreciated by c.25% against the US Dollar.

Economic data

It seems that the trade war frictions have not affected growth to a significant extent yet as both the leading and lagging indicators suggest the global economy is in good shape. In the US business and consumer confidence remained at high levels however companies  are concerned about the potential impact that the trade tensions may have on their business activities. In the Eurozone, economic growth indicators remained at decent levels. The labour market continued to tighten with unemployment falling to 8.2%, the lowest since 2009. In the UK, growth in the third quarter was reasonably strong. However, consumer confidence remained at below average levels as Brexit uncertainty persisted. In emerging markets, Chinese data was mixed with July data showing some signs of weakness whilst August numbers pointed more to the upside.

 

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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