standard life ireland myfolio market funds - brokerzone · jan 2014 2014 2014 2014 jan 2015 2015...

Standard Life Ireland MyFolio Market fundsCombined updates and commentary

January 2018

02/16 Standard Life Ireland MyFolio Market funds - combined updates and commentary - January 2018

Standard Life Ireland MyFolio Market I Fund update

Performance is net of Annual Management Charge.

Performance

Fund manager:Standard Life

Launch date:27 January 2014

Currency: Euro

Fund size:€55.9m

The value of your investment may go down as well as up and may be affected by changes incurrency exchange rates. Past performance is not a reliable guide to future performance.

1 year 2 years 3 years

15.7%

Sincelaunch3 months

2.6% pa 3.8% pa

Cumulative return

Annualised return

20%

10%

0%

2.6%1.2%

3.2% pa

6.6% 8.0%

unitprice

120

115

110

105

100

Jan 2014

April 2014

April 2015

April 2016

April 2017

July 2014

July 2015

July 2016

July 2017

Oct 2014

Oct 2015

Oct 2016

Oct 2017

Jan 2018

Jan 2015

Jan 2016

Jan 2017

January 2018

Performance to 31 December 2017


Standard Life Ireland MyFolio Market funds - combined updates and commentary - January 2018 03/16

Asset allocation

Split by class and fund at 31 December 2017

This document is not an advertisement. A decision to invest should not be based on theinformation in it. Please talk to your financial adviser for more information, or if you need anexplanation of the terms used.

All fund data is provided by Standard Life Investments.

Split at 31 December 2017

Growth 27.2%Growth assets are generally higher risk investments withhigher return potential

Defensive 72.8%Defensive assets are generally lower risk investments with lower return potential

Equities 17.6%

Bonds 5.4%

Property 4.2%

Bonds 65.5%

Money market instruments(including cash) 7.3%

Bonds 70.9%Vanguard Euro Investment Grade Bond Index Fund 51.0%Standard Life Global Inflation Linked Bond Fund 13.8%Standard Life Global High Yield Bond Fund 2.7%Standard Life Emerging Market LC Debt Fund 2.7%Vanguard Euro Government Bond Index Fund 0.7%

Equities 17.6%Vanguard Eurozone Stock Index Fund 7.7%Vanguard US 500 Stock Index Fund 4.7%Vanguard Japan Stock Index Fund 1.5%Vanguard FTSE UK All Share Index Fund 1.3%Vanguard Pacific Basin Stock Index Fund 1.2%Vanguard Emerging Markets Stock Index Fund 1.2%

Property 4.2%Standard Life Global REIT Fund 2.1%Standard Life Property Fund 2.1%

Money market instruments (including cash) 7.3%Standard Life Euro Global Liquidity Fund 7.3%


Standard Life Ireland MyFolio Market II Fund update


Performance



Currency: Euro

Fund size:€91.3m


1 year 2 years

12.6%

3 years

22.4%

Sincelaunch3 months

4.8% pa 5.3% pa4.0% pa

9.9%

Cumulative return

Annualised return

20%

10%

0%

4.4%1.7%

unitprice

125

120

115

110

105

100

Jan 2014

April 2014

April 2015

April 2016

April 2017

July 2014

July 2015

July 2016

July 2017

Oct 2014

Oct 2015

Oct 2016

Oct 2017

Jan 2018

Jan 2015

Jan 2016

Jan 2017

January 2018




Asset allocation







Equities 32.8%

Bonds 9.6%

Property 7.6%

Bonds 46.4%


Bonds 56.0%Vanguard Euro Investment Grade Bond Index Fund 34.9%Standard Life Global Inflation Linked Bond Fund 11.5%Standard Life Global High Yield Bond Fund 5.0%Standard Life Emerging Market LC Debt Fund 4.6%

Equities 32.8%Vanguard Eurozone Stock Index Fund 15.5%Vanguard US 500 Stock Index Fund 8.4%Vanguard Japan Stock Index Fund 2.6%Vanguard Pacific Basin Stock Index Fund 2.0%Vanguard FTSE UK All Share Index Fund 2.2%Vanguard Emerging Markets Stock Index Fund 2.1%




Standard Life Ireland MyFolio Market III Fund update


Performance

Fund manager:Standard LifeLaunch date:27 January 2014

Currency: Euro

Fund size:€119.1m


1 year 2 years

17.2%

3 years

28.6%

Sincelaunch3 months

5.9% pa 5.4% pa 6.6% pa

12.1%

Cumulative return

Annualised return30%

20%

10%

0%2.1%

6.1%


unitprice

135

130

125

120

115

110

105

100

95

Jan 2014

April 2014

April 2015

April 2016

April 2017

July 2014

July 2015

July 2016

July 2017

Oct 2014

Oct 2015

Oct 2016

Oct 2017

Jan 2018

Jan 2015

Jan 2016

Jan 2017

January 2018



Asset allocation







Equities 47.3%

Bonds 12.9%

Property 10.6%

Bonds 28.2%


Bonds 41.1%Vanguard Euro Investment Grade Bond Index Fund 20.4%Standard Life Global Inflation Linked Bond Fund 7.8%Standard Life Global High Yield Bond Fund 7.1%Standard Life Emerging Market LC Debt Fund 5.8%





35.4%

Standard Life Ireland MyFolio Market IV Fund update


Performance



Currency: Euro

Fund size:€42.2m


1 year 2 years

21.6%

3 yearsSince

launch3 months

6.8% pa 6.7% pa 8.0% pa

14.1%

Cumulative return

Annualised return

40%

30%

20%

10%

0%

2.4%

7.8%


unitprice

140

135

130

125

120

115

110

105

100

95

Jan 2014

April 2014

April 2015

April 2016

April 2017

July 2014

July 2015

July 2016

July 2017

Oct 2014

Oct 2015

Oct 2016

Oct 2017

Jan 2018

Jan 2015

Jan 2016

Jan 2017

January 2018



Asset allocation







Equities 62.7%

Bonds 12.8%

Property 13.4%

Bonds 10.1%


Bonds 22.9%Vanguard Euro Investment Grade Bond Index Fund 7.8%Standard Life Global High Yield Bond Fund 7.6%Standard Life Emerging Market LC Debt Fund 5.2%Standard Life Global Inflation Linked Bond Fund 2.3%





42.1%

Standard Life Ireland MyFolio Market V Fund update


Performance



Currency: Euro

Fund size:€12.0m


1 year 2 years

25.9%

3 yearsSince

launch3 months

7.8% pa 8.0% pa 9.3% pa

16.2%

Cumulative return

Annualised return

40%

30%

20%

10%

0%

3.0% 9.7%


unitprice

150

145

140

135

130

125

120

115

110

105

100

95

Jan 2014

April 2014

April 2015

April 2016

April 2017

July 2014

July 2015

July 2016

July 2017

Oct 2014

Oct 2015

Oct 2016

Oct 2017

Jan 2018

Jan 2015

Jan 2016

Jan 2017

January 2018


11/16Standard Life Ireland MyFolio Market funds - combined updates and commentary - January 2018

Asset allocation







Equities 82.4%

Property 14.6%

Bonds 2.0%


Bonds 2.0%Vanguard Euro Investment Grade Bond Index Fund 2.0%





EnvironmentGlobal equities finished 2017 in fine style, with many indices hitting all-time highs. The ongoingimprovement in the world's economy and a strong corporate reporting season drove this. Sentimentalso received a fillip after US President Trump signed his much-vaunted $1.5 trillion tax cut into law.As with much of the year, politics remained to the fore. This included a vote for independence inCatalonia (rejected by Madrid), the formation of the European Union’s first far-right government inAustria and a landslide snap election victory for Japanese Prime Minister Shinzo Abe. Meanwhile,Brexit talks progressed to the second phase after the striking of a last-minute deal.Bond markets were volatile in the final quarter of 2017. There was another interest rate hike in theUS, while in the UK the Bank of England raised interest rates for the first time in more than adecade. Global government bonds did manage to deliver a small positive return. In the UK, thebreakthrough in Brexit negotiations was positive for gilts. Meanwhile, the announcement that theEuropean Central Bank would reduce its bond-buying programme more gradually than expectedbenefited European bonds. Corporate bonds experienced a positive quarter given the generallyrobust global economic environment and solid corporate earnings.UK commercial real estate delivered positive performance during the fourth quarter, concluding arelatively rewarding year for investors. Income returns remained strong, supported by robustoccupational demand, while capital values also strengthened over the year. UK investment volumesheld up well, still largely driven by overseas buyers. Demand for industrial assets was particularlybuoyant, as favourable fundamentals and the security of long-lease income continued to attractinvestors. As a result, the sector delivered the strongest returns over the quarter and the year.

ActivityWe review the Strategic Asset Allocation (SAA) for each of the MyFolio funds every quarter, with theaim of ensuring that we continue to meet investors’ long-term interests. Following the most recentreview, we made no changes to the SAA model.

There were no Tactical Asset Allocation changes to the MyFolio Active funds over the period.Meanwhile, we continue to seek growth opportunities in the funds alongside income in a world oflow yields. Despite historically low growth, there should be cyclical opportunities as economicactivity broadens out, so company profits may be sustained. Political risks have dampened but couldstill surprise investors, positively or negatively. In addition, monetary policy does not need to tightenaggressively as underlying inflation is restrained. Specifically, the funds continue to favour growthassets over defensive and specifically global equities through overweight allocations (relative to theSAA to US, European, Japanese and Asia Pacific equities, while maintaining an underweightallocation to UK equities. We continue to hold underweight allocations in global index-linked bondsand Euro-denominated corporate bonds in addition to the underweight allocation to UK commercialproperty. Please note that allocations to specific asset classes may not apply at all risk levels.

Standard Life IrelandMyFolio funds commentaryJanuary 2018


Market outlookGlobal equity markets enter 2018 on a sound footing. The world economy is growing at a robustrate, which is feeding into healthy corporate profits. Central banks have started to withdrawmonetary stimulus, although any future moves will be measured and data-dependent. Challengesremain, notably around geopolitics, the US debt ceiling and potential policy missteps. China couldalso slow more sharply than expected. Nonetheless, the overall the outlook is encouraging. The outlook for bonds is generally less positive. However, there is enough uncertainty to make itunlikely that government bonds will fall in value significantly. Valuations in some parts of thecorporate bond market are a little stretched. However, we believe that the fairly benignmacroeconomic environment should provide support.UK real estate dynamics remain supportive, although we expect returns to moderate as the economyexperiences weaker growth in 2018. Although Brexit negotiations progressed at the end of 2017,the full economic impact remains unknown and this will continue to affect sentiment towards UKcommercial real estate. Despite this uncertainty, we expect real estate to remain attractive toinvestors seeking a source of sustainable income.

Pensions Savings Investments

MFMUCC V01 0118 ©2018 Standard Life Aberdeen. All rights reserved.

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Standard Life Assurance Limited is authorised by the Prudential Regulation Authority in the UK and is regulated by the Central Bank of Ireland for conduct of business rules. Standard Life Assurance Limitedis registered in Dublin, Ireland (905495) at 90 St Stephen’s Green, Dublin 2 and Edinburgh, Scotland(SC286833) at Standard Life House, 30 Lothian Road, Edinburgh EH1 2DH.

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standard life ireland myfolio market funds - brokerzone · jan 2014 2014 2014 2014 jan 2015 2015...

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