Zurich Life Gold

The Gold Fund invests in an Exchange Traded Certificate (ETC) managed by Invesco. Its purpose is to give investors exposure to movements in the gold price rather than to hold physical gold directly. The ETC aims to track the spot price of gold in US dollars.

The Gold Fund is a passive fund that uses an Invesco ETC to follow the spot price of gold in US dollars. Because it uses a tracking vehicle rather than buying gold itself, the fund may not match the gold price exactly. This means its returns can differ slightly from the price of gold.

The Gold Fund may suit investors who want focused exposure to gold within a unit-linked fund structure. Gold is often used by investors who want an asset linked to precious metals rather than shares or bonds. The Gold Fund is designed for those seeking that specific market exposure.

The Gold Fund carries currency risk for euro investors because the underlying gold benchmark is quoted in US dollars. Currency risk means exchange-rate movements can affect returns when the asset is priced in a different currency from the investor’s own. In practice, even if gold rises in dollars, a weaker dollar could reduce the return for a euro-based investor.