Passive IRIS is passively managed (except for the direct property element and cash, which are actively managed). The equity element tracks the performance of a leading global index (with 75% currency hedging).
Passive IRIS is aimed primarily at pension investors who want to take a retirement lump sum and invest in an Approved Retirement Fund (ARF) at retirement. The chart below illustrates how the asset mix of Passive IRIS automatically changes over the 15 years leading to retirement.
Additional Passive IRIS Options
While Passive IRIS is aimed primarily at pension investors who want to take a retirement lump sum and invest in an ARF at retirement, additional Passive IRIS options aimed at individuals who want to purchase an annuity or take a cash lump sum at retirement are also available. The asset mix of these options will differ to the asset mix of the Passive IRIS default option only in the five years before your retirement year. More information on these options is included below.
Passive IRIS Annuity Option
The Passive IRIS Annuity Option is aimed at pension investors who plan to use their retirement fund to purchase an annuity at retirement. Five years from your retirement year the asset mix starts to be tailored specifically to suit pension investors who plan to purchase an annuity at retirement.
Passive IRIS Lump Sum Option
The Passive IRIS Lump Sum Option is aimed at pension investors who plan to use their retirement fund to take a cash lump sum at retirement. Five years from your retirement year the asset mix starts to be tailored specifically to suit pension investors who plan to take a cash lump sum at retirement.
While the asset mix of the options above will differ to the Passive IRIS default option only in the last five years, you can switch to the Passive IRIS Annuity Option or the Passive IRIS Lump Sum Option at any time.
Further information on the Passive IRIS fund is available in our Passive IRIS brochure.
Warning: The value of your investment may go down as well as up.
Warning: If you invest in these funds you may lose some or all of the money you invest.
Warning: This fund may be affected by changes in currency exchange rates.