Cash Fund

The Cash Fund is invested in deposits and money market instruments, as well as short-dated fixed income securities issued by governments of the euro currency bloc. The cash fund is intended to be a low risk investment option which may not be appropriate for longer term investment due to the relatively low returns associated with low risk assets. Customers should consider their investment objectives prior to selecting this fund.

There is no capital security in the fund and the value of the fund may fall if, for example, a bank that the fund has placed a deposit with cannot repay all or part of that deposit. The value of the fund may also fall if the charges applying to the fund are higher than the returns earned by the fund. The low risk associated with this fund is, in part, managed by diversifying the fund’s assets across a range of counterparties which are subject to a minimum allowable credit rating. Further managing the risk associated with the fund, no non-euro exposure is permitted. This fund is managed by Zurich Life