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Zurich launches global equity income fund
Zurich has partnered with PM Capital to launch Zurich Investments Global Equity Income Fund, designed to provide investors access to global equity markets with increased levels of income and decreased levels of downside risk.
Zurich general manager retail life and investments, Philip Kewin, said partnering with selected fund managers gave the company agility and speed to market.
The fund holds 40 income-producing international stocks diversified across sectors and regions, and uses currency strategies and other innovations to reduce downside risk.
"We believe, given the low-growth environment in Australia and the relative cheapness of international stocks, this is the right time to be accessing global equity markets," Kewin said.
"This fund provides that exposure to growth opportunities, but also employs strategies to reduce risk and provide a healthy level of income, well in excess of cash rates."
Kewin said Zurich partnered with PM Capital after a market review revealed PM had a relatively new fund which suited Zurich's needs. The fund was rebranded after Zurich took over as responsible entity.
Recent research by Zurich found advisers wanted equity exposure but had low expectations for growth in local markets.
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