Zurich appoints UBS as new fund manager

Zurich has added UBS to its MultiManager Protected Profits Fund (MPPF), available through Sterling’s range of investment products, as well as selected Zurich pension products.

The change, which has seen UBS replace Aberdeen on the panel of external fund managers, is part of a continual refresh and review of Zurich’s fund range.

Commenting on the fund manager change, Pete Davis, Zurich’s Fund Development Director, said: “We have chosen the UBS US Equity fund because of its proven performance record which is testament to the team who run it, led by Tom Digenan. We have five excellent fund managers on the panel, all with top performing funds, so we expect to see our MultiManager Protected Profits Fund become even more popular. Currently attracting over £20m in new business every month, this product continues to meet growing IFA and customer demand for a MultiManager proposition.”

This latest change demonstrates Zurich’s ongoing commitment to offering intermediaries and their customers a choice of solutions that respond to the changing world we live in.

The MultiManager fund which currently has over £300m under management, has been designed to provide investors with a combination of protection and performance. The protected price is designed not to fall below 80 per cent of the highest-ever protected profits fund price, whilst the performance is generated by investing in a combination of cash and equities through the funds listed below:

Cazenove: UK Growth and Income Fund
Newton: Higher Income Fund
UBS: US Equity Fund
Gartmore: European Selected Opportunities Fund
Barclays Global Investors: Barclays Sterling Liquidity First Fund