Fund Return 2018-2019

Fund return to 31 October 2018


Fund

Performance

 

1 month

Scheme Year to Date

1 Year

 

 

 

CERS Multi Asset Fund

-3.5%

-1.0%

0.3%

CERS Bond Fund

-0.1%

-0.9%

-0.9%

CERS Cash Fund

-0.1%

-0.4%

-0.8%

CERS Equity Fund

-6.2%

-3.3%

-0.8%

CERS Property Fund

-0.1 %

3.1%

5.9%

CERS Alternative Asset Fund

-2.7%

0.4%

-1.6%


Investment Commentary


Provided by Mercer - CERS Investment Adviser

Market developments

September offered some pain-relief as President Trump struck trade deals with Mexico and Canada. That reduced but not eliminated the risk of a global trade war as frictions between the US and China continued. Developed market equities posted positive returns in September led by a rally in Japan. Bonds fell with 10 year US Treasury bond yield exceeding 3.2% as the Federal Reserve hiked rates to 2.25%. Emerging market equities fell slightly whilst both hard and local currency debt posted significant gains.

 

Economic data

Unchanged from last month, 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. 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 solid levels. The labour market continued to tighten with unemployment falling to 8.1%, the lowest since 2009. In the UK, growth in the third quarter looks to be decent. While the UK consumer confidence is at around long term average, it remains lower than elsewhere due to Brexit uncertainty. In Japan, data improved with companies feeling confident enough to spend on new capital – an important driver of economic growth. In emerging markets, the economic data was mixed but still indicating an expansion.

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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