Zurich Life Global Government Bond (JP Morgan)

The Global Government Bond Fund (J.P. Morgan) invests primarily in global government debt securities. At least 67% of assets are invested in debt securities issued or guaranteed by governments worldwide, including agencies and local governments guaranteed by those governments. The fund does not invest in convertible bonds, equities or other participation rights.

The Global Government Bond Fund (J.P. Morgan) invests some of its assets outside the eurozone, so currency risk arises for a euro investor. Currency risk means exchange-rate movements can reduce or increase the value of the investment when foreign-currency holdings are converted back into euros. This is relevant because the fund has exposure to government bonds in markets such as the United States, Japan, Canada and the United Kingdom.

The Global Government Bond Fund (J.P. Morgan) is managed actively by J.P. Morgan. That means the manager decides which government bonds to hold and how to position the fund rather than simply tracking an index. The fund’s holdings show broad exposure across major sovereign issuers, including the United States, France, Japan and Canada.

The Global Government Bond Fund (J.P. Morgan) has a specific 'two stage switch' smoothing mechanism. This is a fund-specific feature described in the policy document, and it may affect how the fund operates within a unit-linked structure. The fund is focused on government bonds only, which keeps it away from equities and convertible securities.