Fund Performance has come up a lot, even though we’re, technically, not supposed to be considering it. Except when we're debating Passive V Active; then it's put forth as Gospel.
The calculator is here
Landing page shows:
Fund Category - Pension / Gross of Tax Funds and PRSA Funds are what the vast majority of savers/investors will be looking for.
Performance Type - Annualised, Cumulative or Calendar Performance figures available.
Date Range - 8 options on dates but the Custom one is the best if you want to ‘compare’ funds with other companies' calculators or fund factsheets as datrs are plucked from thin air.
SFDR Class - Sustainable Finance Disclosure Regulation
A lot of changes here of late where the in-house funds have moved to Article 8. Most notably, International Equity 8 whereas Global Passive/Index Tracker is 6.
Hold on, why are there two different calculators for Pensions and PRSAs?
Because there are certain variable third party costs that can’t be passed on to customers on PRSAs but are included in pensions. So, the performance of those funds, that they apply to, will be marginally better on the PRSA.
But, why don’t other pension providers show two prices on their websites that clearly distinguish between the two?
I don’t know. Yet.
The Pension / Gross of Tax Funds performance figures include all Other Ongoing Costs, Portfolio Transaction Costs and an AMC of 0.40%. It's been that way for 35 years.
The PRSA Funds performance figures include all Other Ongoing Costs, Portfolio Transaction Costs and an AMC of 0.00%.
So you’re telling me that all this disclosure is there in front of me and if I want to compare how (say) the Eurozone Equity has done over the last 10 years Vs the Indexed Eurozone Equity, it’s on a like-for-like basis on the platform?
Yes.
I cannot get the customised figures to match the exact performance of my lump-sum investment or single premium pension. Why?
It could be because
a) if the date of your investment is 01/03/2024 then it’s the following day’s price that you bought at and you also don’t have today's closing price on the calculator. Days matter.
b) you’re not taking into account the AMC that’s on your plan.
Why is there a calendar icon beside some funds, in the Date Range column?
Because the exact date range fund prices/performance may not be available for those specific funds. It’s usually with external third party funds like Indexed Global Equity so just be careful on like-for-like comparisons.
You should also take this into consideration when using any performance calculator or reading the absolute nonsense that individual providers publish and pass as ‘sales aids’. It also applies to the companies that collate the information from all the providers and see fit to publish the figures. Read the small print at the end of the pages they're on.
Gerard
www.prsa.ie
The calculator is here
Landing page shows:
Fund Category - Pension / Gross of Tax Funds and PRSA Funds are what the vast majority of savers/investors will be looking for.
Performance Type - Annualised, Cumulative or Calendar Performance figures available.
Date Range - 8 options on dates but the Custom one is the best if you want to ‘compare’ funds with other companies' calculators or fund factsheets as datrs are plucked from thin air.
SFDR Class - Sustainable Finance Disclosure Regulation
- Article 9: These are funds with specific environmental or social objectives.
- Article 8: These are funds that promote environmental or social characteristics, and which invest in companies that follow good governance practices.
- Article 6: These are funds that integrate sustainability risks into their investment decisions.
A lot of changes here of late where the in-house funds have moved to Article 8. Most notably, International Equity 8 whereas Global Passive/Index Tracker is 6.
Hold on, why are there two different calculators for Pensions and PRSAs?
Because there are certain variable third party costs that can’t be passed on to customers on PRSAs but are included in pensions. So, the performance of those funds, that they apply to, will be marginally better on the PRSA.
But, why don’t other pension providers show two prices on their websites that clearly distinguish between the two?
I don’t know. Yet.
The Pension / Gross of Tax Funds performance figures include all Other Ongoing Costs, Portfolio Transaction Costs and an AMC of 0.40%. It's been that way for 35 years.
The PRSA Funds performance figures include all Other Ongoing Costs, Portfolio Transaction Costs and an AMC of 0.00%.
So you’re telling me that all this disclosure is there in front of me and if I want to compare how (say) the Eurozone Equity has done over the last 10 years Vs the Indexed Eurozone Equity, it’s on a like-for-like basis on the platform?
Yes.
I cannot get the customised figures to match the exact performance of my lump-sum investment or single premium pension. Why?
It could be because
a) if the date of your investment is 01/03/2024 then it’s the following day’s price that you bought at and you also don’t have today's closing price on the calculator. Days matter.
b) you’re not taking into account the AMC that’s on your plan.
Why is there a calendar icon beside some funds, in the Date Range column?
Because the exact date range fund prices/performance may not be available for those specific funds. It’s usually with external third party funds like Indexed Global Equity so just be careful on like-for-like comparisons.
You should also take this into consideration when using any performance calculator or reading the absolute nonsense that individual providers publish and pass as ‘sales aids’. It also applies to the companies that collate the information from all the providers and see fit to publish the figures. Read the small print at the end of the pages they're on.
Gerard
www.prsa.ie
