Irish Life MAP funds

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user180224

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I am sitting on quite a bit of cash, and will need to keep €50/€70k for a deposit on an apartment I'd be looking to buy relatively shortly.

Other than that looking at what to do with the remainder. Had a free call with Irish Life yesterday and they recommend MAP 6 fund - 1% government fee and 1.2% management fee then the 41% exit tax.

What are the general consensus for these funds? Avoid, worth putting a bit in it?

I'll also be putting a bit in a SP500 etf
 
High cost and opaque, in my opinion.

The MAP 6 also seems high risk to me since you will need the money shortly. (Edit: I misunderstood)
 
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I don't need this money for long term - would be at least a 5+ year investment term.

What I need short term will be put into short term bonds/debt/prizebonds etc
 
Splitting it between a fund and an ETF may look like diversification but it's really the worst of both worlds - the fund overlaps much of SP500 and you still have the administration of deemed disposal on the ETF. I would choose one or the other.
 
user180224 said:
I am sitting on quite a bit of cash, and will need to keep €50/€70k for a deposit on an apartment I'd be looking to buy relatively shortly.

Other than that looking at what to do with the remainder. Had a free call with Irish Life yesterday and they recommend MAP 6 fund - 1% government fee and 1.2% management fee then the 41% exit tax.

What are the general consensus for these funds? Avoid, worth putting a bit in it?

I'll also be putting a bit in a SP500 etf
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Run, run a mile from MAPs and then run further. Speak to one of the advisers on here
 
I'd be pretty confident that no matter which advisor you went to that the vast majority of them would recommend the same company based on a preference for a higher risk Multi-Asset Fund, because past performance will come up. But, bear in mind that any comparison you're shown on these funds is most likely not on an exact like-for-like basis.

So, your focus should probably be on the charging structures offered and the service provided.

  • Most companies have pricing structures that include the cost of the Governmernt Levy ie. 101% allocation. If you got 100% allocation then it's the equivalent of having an additional circa 0.15% pa drag on your investment
  • The AMC may or may not include a trail commission eg. 0.75% to company and 0.25% to intermediary
  • The product may have early encashment charges in the first few (3/5) years of the contract
  • Each fund will have Other Ongoing Costs (OOCs probably 0.05/0.10% depending on fund and provider).
  • Each Fund will have Portfolio Transaction Costs. These are included in the fund price/performance figures of the providers, along wth the OOCs.
 
Coffeeortea said:
Run, run a mile from MAPs and then run further. Speak to one of the advisers on here
Click to expand...
Why run a mile? I'm investing a much smaller sum via a monthly DD and chose it primarily for convenience. I do hope to keep this investment for the medium term, but every now and then I feel discomfort when I come across comments like this. As someone with little investment experience I can find it all quite confusing. I know each to their own when it comes to investment, but its always useful to look for better ways of doing things where possible.
 
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