Secure Fund to close in August 2021

Why is the Secure Fund closing?
The Secure Fund invests in bank deposits, money market instruments and short dated government bonds. The returns on these assets have been negative for several years, but the unit prices for the Secure Fund have not reduced as they are guaranteed not to fall. Due to the continuing negative returns on cash assets, Zurich has taken the decision to close the Secure Fund.

What does this mean for policyholders?
We will switch investments from the Secure Fund and redirect future contributions (where applicable) into the Cash Fund with effect from 13 August 2021. 

For policies with an Investment Strategy using the Secure Fund, this will continue to operate; with effect from 13 August 2021, the Secure Fund will be replaced with the Cash Fund:

• Any investment in the Secure Fund will be switched into the Cash Fund.
• Any future Investment Strategy switches or contributions due to be invested in the Secure Fund will instead be invested in the Cash Fund.

The Cash Fund invests in the same types of assets which the Secure Fund invests in. However, the Cash Fund does not have a guarantee that the unit price will not fall. If you require any further information, please contact your Broker Consultant.

Zurich Life Assurance plc is regulated by the Central Bank of Ireland.