Enhanced fund governance approach from Zurich Corporate Pensions

The growing industry issue of under performing legacy DC funds has prompted Zurich to take an active approach to fund governance in order to enhance value creation in DC schemes and assist Trustees in executing their fiduciary duties.

Zurich Corporate Pensions has responded by launching an enhanced fund governance process to ensure consistent long term fund performance, whilst continuing to offer a wide and varied range of funds. The process covers funds available to Zurich Corporate Pensions Group Defined Contribution (DC) Schemes for both Trusts and Contract Based arrangements.

The enhanced fund governance process will ensure:

·        An appropriate range of funds is maintained

·        Ongoing monitoring of fund performance

·        Focused monitoring of the level of risk being taken

·        Focused monitoring of service levels

·        A diligent approach to the selection of funds and fund managers

·        A diligent approach to the de-selection of funds and fund managers

·        Effective ongoing communication with Trustees through governance reporting and Trustee meetings

To further bolster Zurich’s enhanced governance process, Alistair Haney has been appointed as Funds Governance Director. Alistair has worked within the Zurich group since 1987 and is responsible for implementing and managing the enhanced fund governance process.

Dave Hodges, Distribution Director of Zurich Corporate Pensions, said: “We are in an enviable position when it comes to independent fund governance as we do not have a propriety fund manager. This allows us to be completely unbiased when monitoring the performance that is being delivered.”

For further information, please contact Helene Barnes, Senior Media Relations Consultant on 01793 505586 or 07841 562841

Notes to Editors

Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 55,000 people serving customers in more than 120 countries.