Fund Return 2014-2015

 Fund return to 31 May 2015




1 month

1 Year




CERS Multi Asset Fund



CERS Cash Fund



CERS Bond Fund



CERS Equity Fund



CERS Property Fund



CERS Alternative Asset Fund



Investment Commentary - June 2015

Provided by Appian Asset Management, CERS Investment Adviser

The past seven weeks have seen a dramatic reversal in bond market momentum.  It seems unlikely that the correction in bond yields was attributable to an acceleration in economic growth.  Indicators of economic activity over the period have been mixed, at best, with the majority of releases coming in below expectations.

There has perhaps been an easing of deflationary worries as oil and commodity prices improved. Equity market valuations are stretched, with recent activity in mergers and acquisitions and share buy-backs pointing to an equity cycle that is quickly approaching maturity.

The Greek crisis grinds on, generating much uncertainty but not hugely influencing market direction. 


Scheme Year to date performance is the period from 1 June 2014 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 lifestlying.

Performance shown is net of annual management charge and Government Pension Levy as at 30 June 2014.

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 Limited.  You can contact them or your own independent financial adviser to assist you to review your investment choices.  You can contact Milestone Advisory Ltd. 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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