Irish Life fund to reach €7bn

THE Irish Life Consensus Fund has reached record levels, with it being tipped to reach €7 billion in investments in the near future.

The fund is ranked as the country’s fastest growing investment fund.

According to Irish Life, which yesterday launched a new marketing campaign around the fund, its pension and investment customers are investing more than €70 million a month into its Consensus Funds.

The Consensus Fund invests in a mix of shares, property and fixed interest bonds and has produced investment returns of more than 10% a year on average since it was launched.

The fund tracks the performance of leading Irish investment managers, matching their average investment mix.

“Rather than trying to better any particular fund, the Consensus Fund aims to provide performance that is consistently in line with the average of all funds in the market.

“This eliminates the risk for investors of picking a fund or investment manager that will under-perform,” according to Irish Life marketing manager, Karl Symes.

Irish Life offers two Consensus Funds. Pension and investment customers are investing either into its Consensus Fund or into its capital protected version, the Protected Consensus Fund.

“The Consensus Fund is hugely popular with customers whose main priority is investment growth, while the Protected Consensus Fund appeals to investors who want growth but their bigger priority is the security of their capital.

“The Consensus Fund has performed extremely well since it was launched. We would expect that this exceptional track record will continue to appeal to Irish investors in the future. The Consensus Fund revolutionised Irish investment management.

“It has consistently outperformed the managed funds offered by other financial institutions,” he added.