Zurich partners with T Rowe for fund launch

Portfolio-Bonds-Fixed-Income-Performance-UK-700x450.jpgZurich has launched a monthly income fund as part of its recently launched multi-asset Horizon range aimed at the retirement market.

The Zurich Horizon Monthly Income Plus fund will focus on capital preservation as well as growth and will follow the Sterling Strategic Corporate Bond sector as its benchmark.

It will be managed by T Rowe Price, charge 0.7 per cent and will be available on Zurich’s investment platform.

Mark Peters, Zurich’s head of retail propositions, says: “Most income funds deliver income payments quarterly or half-yearly and many seek to deliver equity growth alongside income.

“However, an increasing number of customers choosing drawdown in retirement want a fund that simply delivers a regular monthly income, giving them greater certainty over their finances.”

Currently, Zurich’s five risk-rated multi-asset Horizon range, which was launched in March 2015, have been in the top 15 per cent of their Investment Association sectors since launch, according to FE.

In particular, the Zurich Horizon Multi-Asset Fund V was the best performing fund over last year returning 23.4 per cent against the 16.45 per cent of the IA Flexible Investment sector.

T Rowe Price head of relationship in UK and Ireland John Yule says: “Drawing on the expertise of our fixed income solutions team we were able to construct a product to meet the specific requirements for the Horizon Monthly Income Plus fund.

“This is a significant strategic partnership for us as we continue to build our presence in the UK intermediary market.”