BNP Paribas IFSL Privalto Millenium Tracker Fund - new launch
This is an unusual fund and BNP Paribas call it their ‘dynamic’ tracker fund. The fund tracks the BNP Paribas Millenium 10 Europe Series 3 (sterling hedged) Total Return Index which is made up of various different assets like shares,
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corporate bonds commodities, currency and commercial property. It also has geographical diversification with exposure to markets like Europe, Japan, and China.In essence, each underlying asset is made up of a specific index. There are eight different indices which the fund ultimately tracks so there is no stock picking involved. In order to decide how much should be invested in each of these eight indices, there is a model in place that decides the optimal allocation which is adjusted each month.The fund aims to benefit from these assets either rising or falling in value and with this in mind it will aim to deliver a positive return each year. However, this strategy together with its use of currency makes this fund higher risk and investors’ capital is still at risk and will fall as well as rise.We believe that the annual charge of 1.5% is considered expensive for what is essentially a tracker fund.Please note this fund is not on the Wealth 150 list of our favourite funds in each sector.Meera Patel, Senior Analyst> Key Features of the BNP Paribas IFSL Privalto Millenium Tracker Fund
