The GBP Balanced Fund is a Great British Pound denominated fund employing an active asset allocation strategy and a passive investment management strategy invested 50% in income assets (cash and cash equivalents and international fixed interest), with 50% exposure to growth assets (listed property and international equities). 

 

Investment Objectives

The fund seeks to track composite indices (before annual fund charge and tax), 5% Markit iBoxx GBP Liquid Investment Grade Ultrashort Index; 45% Bloomberg Global Aggregate Corporate Index, 100% hedged to GBP; 5% FTSE EPRA/NAREIT UK Index; and 45% MSCI World ESG Screened-Index Net GBP.

 

Investment Managers

The table below sets out the target asset allocation and underlying investment managers for the Fund.

For more information you can access the Funds Statement of Investment Objectives and Policy (SIPO).

Asset Class

Investment Manager

Product Name Benchmark Asset Allocation 1

Cash and cash equivalents

BlackRock Asset Management Ireland Limited

iShares GBP Ultrashort Bond UCITS ETF

5%

International fixed interest

BlackRock Asset Management Ireland Limited iShares ESG Screened Global Corporate Bond Index Fund Class D 45%

Listed property

BlackRock Asset Management Ireland Limited iShares UK Property UCITS ETF 5%

International equities

BlackRock Asset Management Ireland Limited iShares Developed World ESG Screened Index Fund Class D 45%
Total assets 100%

 

1 The Benchmark Asset Allocation, Maximum, Currency Hedging and Operating ranges are set out in the SIPO.

 

Fund Performance

Please find below the latest performance figures for the GBP Balanced Fund as at 31 January 2024.  The returns are after fees and taxes:

 

PIR Tax Rate

Month

Quarter

6-months

12-months

Inception

28%

0.29%

8.94%

4.70%

7.20%

2.49%

0%

0.39%

9.25%

5.29%

8.41%

3.63%

* GBP Balanced Fund was established on 1 August 2022

* Returns for periods longer than one year are annualised

 

The chart below illustrates the performance of £100,000 invested in the GBP Balanced Fund from inception on 1 August 2022 to 31 January 2024. The chart shows cumulative investment performance after fees, and tax (at 28%):