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20th March 2003 - Zurich International Life Limited (Zurich) today announced the addition of 11 new funds to complement its existing portfolio. The new funds will be available to both individual and corporate clients.
- Two new funds 'Defensive' and 'Cautious' are being added to the Managed fund range and all 15 Managed funds will now be available in USD, GBP and EUR denominations.
- A Swiss Franc Money fund is being launched
- ZI UBS Swiss Franc Bond is added to the Mirror fund range
- The existing Retirement Investment Strategies Service (RIS), available on Vista and Magnus products, will now also be offered in EUR denominations
New Managed Funds
The Defensive fund offers the lowest risk in the range by investing a large proportion in fixed interest securities and retaining only a small exposure to equities. The Cautious fund also has a bias towards fixed interest securities and typically 40% in equities. 90% of the assets in both funds are held in the underlying fund currency to minimise currency exposure.
These two new funds are additions to the existing Managed fund range, which currently consists of Adventurous, Performance and Blue Chip funds. As their names suggest, the funds are characterised on a sliding scale risk profile. Adventurous consists of mainly equities so potentially has the greatest risk and the greatest potential return. The new Defensive fund has been designed to be the least volatile and consists mainly of bonds.
Low Risk Funds
Zurich is also adding a Swiss Franc Money fund to this range, designed to offer competitive returns on cash for short-term investors. The Low Risk fund range is currently made up of the Secure Money funds and the Guaranteed Accumulation funds.
Mirror Funds
In addition to the existing ZI Mirror fund range, Zurich are introducing a new ZI UBS Swiss Franc Bond Fund. This fund mirrors a large, established fund managed by UBS, which invests in a broad range of high quality Swiss Franc bonds.
The Mirror fund range consists of a varied range which mirror specialist funds from thirteen leading investment management organisations around the world. They are chosen for a combination of investment expertise and performance across a choice of asset types, markets and industrial sectors and complement the internal Zurich International fund range.
Each of these new funds is available on the majority of ZILL products, except the International Wealth Account, Wealth Preservation Account and Futura.
Retirement Investment Strategy (RIS)
The five strategies that make up the RIS service, and invest in a variety of funds, are also now available in EUR denomination. The service automatically switches customers between funds to reduce risk, as they approach retirement by gradually reducing their exposure to the stock market. No other offshore provider currently offers this automatic switching service.
Mark Goodman, Distribution Director at Zurich International Life Limited comments, "Our experience confirms that some clients and their advisers are currently looking for more cautious, but still actively managed, fund options. The new additions complement our existing award winning managed fund range. We will continue to develop our range in the coming 12 months to keep pace with developing customer demands."
Further details are available on the Zurich International Life Limited website at http://www.zurichintlife.com.
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Notes to Editors:
Fund Charge
The Managed fund range carries an Annual Management Charge of 1.5%.
The new Swiss Franc Money fund has an Annual Management Charge of 0.75%.
The Zurich International Management Charge on its Mirror fund range is 0.75%.
Zurich International Life Limited, headquartered in the Isle of Man is part of the Zurich Financial Services Group. With over a century of experience, the Group has offices in over 60 countries, reaching 38 million customers and employing over 70,000 people.
Zurich International is a business name of Zurich International Life Limited which provides life assurance and investment products.
Registered in the Isle of Man Number 20126 Registered Office: 43-51 Athol Street, Douglas, Isle of Man IM99 1EF, British Isles. Telephone +44 1624 662266 Telefax +44 1624 662038
Zurich International Life Limited is regulated by the Financial Services Authority for UK business only.
For further press information please contact:
Debi Isaac, Zurich Financial Services Press Office, Tel: 01793 503810 | 