Your guide to investment choices - Convoy Financial …prdlib.convoy.com.hk/prdportal/File/Product...

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Zurich International Life

Your guide to investment choices

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The Plans are the insurance polices issued by Zurich International Life. Your investment is subject to the credit risks of Zurich International Life.

You are not investing in the underlying funds/assets of the investment choices. You do not have any rights or ownership over these underlying funds/assets.

The premiums paid by you towards the Plan will become part of the assets of Zurich International Life. You do not have any rights or ownership over any of these assets. Your recourse is against Zurich International Life only.

Any early termination/surrender/partial surrender of these Plans or reduction in premium may result in a significant loss of principal and/or bonuses awarded. Poor performance of underlying funds/assets may further magnify your investment losses, while all charges are still deductible.

Your return on investment is calculated by Zurich International Life with reference to the fluctuation of performance of the underlying funds/assets, and is subject to the charges of the Plan and may be lower than the return of the corresponding SFC-authorised funds. Each investment choice will have its own features and risk profiles. Some may be of high risk.

Investment involves risk, you should not purchase the Plan unless you understand it and it has been explained how it is suitable for you. The final decision is yours.

The return of some of the investment choices is calculated with reference to a pool of assets internally managed on a discretionary basis by Zurich International Life and are not authorised by the Hong Kong Securities and Futures Commission (SFC) pursuant to the Code on Unit Trusts and Mutual Funds (UT Code).

If you invest in Euro Guaranteed Accumulation Fund, US Dollar Guaranteed Accumulation Fund and Sterling Guaranteed Accumulation Fund (individually called the GAF and collectively called the GAFs) and withdraw any money from the GAF, for example, as a switch out or surrender, at any time other than the permitted withdrawal date(s) (for details, please refer to the relevant policy terms and conditions), Zurich International Life may apply a market level adjustment (MLA), which may significantly reduce your investment account value or the amount you receive. The maximum amount reduced by a MLA can be up to 100% of the withdrawal or surrender amount from the GAF. The rate of MLA will be determind and administered on a case by case basis and may vary depending on when the investment was made, the period of investment and the market conditions during that period. Please call our Customer Care Team on +852 3405 7150 for the prevailing MLA rate.

Important information:

This brochure is applicable to the investment-linked assurance schemes namely Vista, Futura II, Elite International Bond*, ELITE Personal/Managed Bond*, Vista Retirement Scheme* and SUPRA Savings and Investment Plan*, issued by Zurich International Life Limited (Zurich International Life), which individually called the Plan and collectively called the Plans in this brochure. This brochure, the relevant product brochure and the relevant product key facts statement together constitute the offering documents of the Plans and should be read in conjunction with each other.

* These plans are not available for new policy application and are not marketed to the public in Hong Kong. There is no product key facts statement available for these plans. Existing policies are unaffected.

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Part of the fees and charges you pay that will be deducted from the value of your Futura II will be used to cover the insurance charges for the life cover and any additional coverage you may choose. The insurance charges will reduce the amount that may be invested in the investment choices selected. The insurance charges may increase significantly during the term of your Futura II due to factors such as age and investment losses, etc. This may result in significant or even total loss of your premiums paid. If the value of your Futura II becomes insufficient to cover all the ongoing fees and charges, including the insurance charges, your Futura II may be terminated early and you could lose all your premiums paid and benefits. You should consult your financial professional for details, such as how the charges may increase and could impact the value of your Futura II.

Important information for Futura II only:

The investment choices available, under Futura II are Euro Blue Chip Fund, Sterling Blue Chip Fund and US Dollar Blue Chip Fund (individually called Blue Chip Fund and collectively called the Blue Chip Funds) and the GAFs. These are pools of assets internally managed on a discretionary basis by Zurich International Life and are not authorised by the SFC pursuant to the UT Code.

You should also read the offering documents of the underlying funds corresponding to the investment choices you are considering, which are made available by Zurich International Life upon request. You can obtain these documents by calling our Customer Care Team on +852 3405 7150.

The units of the investment choices allocated to the Plan are notional and are solely for the purpose of determining the value of the respective Plans. You are not investing in the underlying funds/assets and you shall not have any rights or ownership over the underlying funds/assets. The return under the Plan, subject to the charges of the respective Plans, may be lower than the underlying funds/assets.

Investment involves risk and the value of any investment and the income from it can fall as well as rise. Your investments in some investment choices may result in large and sudden falls in the price of units. The shortfalls on cancellation or loss on realisation could be considerable, you may not get back the amount originally invested or you could get back nothing at all. Please remember that past performance is not a guide to future performance.

For full details of the underlying funds corresponding to the investment choices, including their risk factors and fees and charges, please refer to the offering documents of the underlying funds which are available by Zurich International Life upon request.

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ZI Aberdeen Global Asia Pacific Equity ARUSD Far Eastern Equity 1.75% 34 Fund

ZI Aberdeen Global Asian Local OMUSD Asian Bond 1.00% 24 Currency Short Duration Bond Fund

ZI Aberdeen Global Chinese ASUSD Far Eastern Equity 1.75% 35 Equity Fund

ZI Aberdeen Global Technology ATUSD Specialist 1.75% 46 Equity Fund

ZI Allianz Oriental Income Fund KNUSD Far Eastern Equity 1.50% 35 (formerly known as ZI Allianz RCM Oriental Income Fund)

ZI Allianz Thailand Equity KMUSD Far Eastern Equity 1.75% 35 (formerly known as ZI Allianz RCM Thailand)

ZI Allianz Total Return Asian Equity BZUSD Far Eastern Equity 1.75% 35 (formerly known as ZI Allianz RCM Total Return Asian Equity)

ZI Amundi Funds Equity ASEAN EXUSD Far Eastern Equity 1.70% 36

ZI Amundi Funds Equity Global Luxury CDUSD Specialist 1.70% 46 and Lifestyle

ZI Baring GUF Eastern Europe Fund NAUSD European Equity 1.50% 33

ZI Baring GUF High Yield Bond Fund NBUSD High Yield and 1.00% 22 Corporate Bond

ZI Baring Hong Kong China Fund BXUSD Far Eastern Equity 1.25% 36

ZI BlackRock Global Funds Emerging MKUSD Emerging Markets 1.75% 42 Europe Equity

ZI BlackRock Global Funds European MBUSD European Equity 1.50% 33 Small and MidCap Opportunities

ZI BlackRock Global Funds Global BHEUR Managed Balanced 1.50% 28 Allocation EUR1

ZI BlackRock Global Funds Global ERUSD Managed Balanced 1.50% 28 Allocation USD

ZI BlackRock Global Funds Global FIUSD Global Equity 1.50% 28 Enhanced Equity Yield

ZI BlackRock Global Funds Global ALEUR Global Bond 0.75% 17 Government Bond EUR1

ZI BlackRock Global Funds Global BPUSD Global Bond 0.75% 18 Government Bond USD

ZI BlackRock Global Funds Japan MCUSD Japanese Equity 1.50% 42 Small and MidCap Opportunities

Investment choicesZurich International Life offers you a wide range of investment choices to meet your needs and your investment appetite. List of investment choices managed by external investment managers

1 The underlying fund is a hedged share class which aims to provide investors with a return correlated to the base currency performance of theunderlying fund, by reducing the effect of exchange rate fluctuations between the base and hedged currency. It is important to note that the hedge is not perfect it aims to reduce, not eliminate, currency risk.

Name of investment choices Investment Asset class Underlying funds Page choice code asset management no. charge (AMC) (per annum of the net asset value of the underlying fund)

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ZI BlackRock Global Funds Latin American MIUSD Emerging Markets Equity 1.75% 42

ZI BlackRock Global Funds New Energy MEUSD Specialist 1.75% 46

ZI BlackRock Global Funds United Kingdom CHGBP UK Equity 1.50% 31

ZI BlackRock Global Funds US MAUSD North American 1.50% 32 Flexible Equity Equity

ZI BlackRock Global Funds MHUSD Specialist 1.75% 47 World Energy

ZI BlackRock Global Funds MJUSD Specialist 1.50% 47 World Financials

ZI BlackRock Global Funds AOSGD Specialist 1.75% 47 World Gold SGD1

ZI BlackRock Global Funds MDUSD Specialist 1.75% 47 World Gold USD

ZI BlackRock Global Funds ONUSD Specialist 1.50% 47 World Healthscience

ZI BlackRock Global Funds MGUSD Specialist 1.75% 48 World Mining

ZI BlackRock Global Funds World FLEUR Specialist 1.50% 48 Technology EUR

ZI BlackRock Global Funds World K2USD Specialist 1.50% 48 Technology USD

ZI DWS Global Agribusiness Fund EVUSD Specialist 1.50% 48

ZI Fidelity China Focus Fund FKUSD Far Eastern Equity 1.50% 36

ZI Fidelity Currency EUR Fund DVEUR Money Market 1.00% 17

ZI Fidelity Currency GBP Fund BXGBP Money Market 1.00% 17

ZI Fidelity Currency USD Fund OYUSD Money Market 1.00% 17

ZI Fidelity Emerging Europe, FBEUR Emerging Markets 1.50% 43 Middle East and Africa Fund Equity

ZI Fidelity European Growth Fund FDEUR European Equity 1.50% 33

ZI Fidelity India Focus Fund FGUSD Far Eastern Equity 1.50% 36

ZI Fidelity International Bond Fund FCUSD Global Bond 0.75% 18

ZI Fidelity International Fund FAUSD Global Equity 1.50% 29

ZI Fidelity Nordic Fund FFSEK European Equity 1.50% 33

ZI Fidelity Pacific Fund EMUSD Far Eastern Equity 1.50% 37

ZI Fidelity Singapore Fund2 EGSGD Far Eastern Equity 1.50% 37

ZI Fidelity World Fund FEEUR Global Equity 1.50% 29

ZI First State Asian Equity Plus Fund FOUSD Far Eastern Equity 1.50% 37

ZI First State China Growth Fund FNUSD Far Eastern Equity 2.00% 37

ZI First State Global Resources Fund 4LUSD Specialist 1.50% 49

ZI Franklin Gold and Precious Metals Fund3 6CUSD Specialist 1.00% 49

ZI Franklin MENA USD Fund3 GCUSD Emerging Markets Equity 1.50% 43

ZI Franklin Mutual Global Discovery Fund3 R2USD Global Equity 1.00% 29

1 The underlying fund is a hedged share class which aims to provide investors with a return correlated to the base currency performance of theunderlying fund, by reducing the effect of exchange rate fluctuations between the base and hedged currency. It is important to note that the hedge is not perfect it aims to reduce, not eliminate, currency risk.

2 This underlying fund is created through a daily currency switch into SGD from the USD share class of the same fund. It is therefore exposed, daily, to currency exchange rate fluctuations between SGD and USD and investors should be aware of the presence of this currency exchange risk before investing.

3 This underlying fund is also subject to servicing & maintenance charges levied by the underlying fund manager in addition to the AMC. Please refer to the offering document of the underlying funds for details.

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ZI Franklin US Government Fund3 TCUSD US Dollar Bond 0.65% 20

ZI Henderson Horizon Asia Pacific EFUSD Property 1.20% 27 Property Equities Fund4

ZI Henderson Horizon China Fund4, 5 T2USD Alternative Investments 1.20% 54

ZI Henderson Horizon Global BAUSD Property 1.20% 27 Property Equities Fund4

ZI HSBC Brazil Equity Fund Z6USD Emerging Markets 1.75% 43 Equity

ZI HSBC Chinese Equity Fund HBUSD Far Eastern Equity 1.50% 38

ZI HSBC Global Emerging Markets NUUSD Emerging Markets 1.00% 25 Bond Fund Bond

ZI HSBC Hong Kong Equity Fund HAUSD Far Eastern Equity 1.00% 38

ZI HSBC Indian Equity Fund HCUSD Far Eastern Equity 1.50% 38

ZI HSBC Thai Equity Fund HGUSD Far Eastern Equity 1.50% 38

ZI Invesco Asia Consumer Demand Fund CFUSD Specialist 1.50% 49

ZI INVESCO Asia Infrastructure Fund DLUSD Specialist 1.50% 49

ZI Invesco Bond Fund OPUSD Global Bond 0.75% 18

ZI Invesco Emerging Local Currencies 4YUSD Emerging Markets 1.50% 26 Debt Fund Bond

ZI Invesco Euro Corporate Bond Fund DMEUR High Yield and 1.00% 22 Corporate Bond

ZI INVESCO European Bond Fund IEUSD Euro Bond 0.75% 21

ZI Invesco Global Bond EUR Fund DNEUR Global Bond 0.90% 18

ZI Invesco Global Bond USD Fund OQUSD Global Bond 0.75% 18

ZI Invesco Global High Income Fund ORUSD High Yield and 1.00% 23 Corporate Bond

ZI INVESCO Pan European Equity Fund IVUSD European Equity 1.50% 34

ZI Investec GSF American Equity Fund CGUSD North American Equity 1.50% 32

ZI Investec GSF Global Energy Fund GNUSD Specialist 1.50% 50

ZI Investec GSF Global Strategic GMUSD Global Equity 1.50% 29 Equity Fund

ZI Investec GSF Investment Grade FTEUR High Yield and 0.75% 23

Corporate Bond EUR Fund1 Corporate Bond

ZI Investec GSF Investment Grade G3USD High Yield and 0.75% 24 Corporate Bond USD Fund Corporate Bond

ZI JPMorgan ASEAN Fund JCUSD Far Eastern Equity 1.50% 39 (formerly known as ZI JF ASEAN Fund)

ZI JPMorgan Asia Domestic APUSD Far Eastern Equity 1.50% 39 Opportunities Fund (formerly known as ZI JF Asia Domestic Opportunities Fund)

ZI JPMorgan Eastern Fund JBUSD Far Eastern Equity 1.50% 39 (formerly known as ZI JF Eastern Fund)

1 The underlying fund is a hedged share class which aims to provide investors with a return correlated to the base currency performance of the underlying fund, by reducing the effect of exchange rate fluctuations between the base and hedged currency. It is important to note that the hedge is not perfect it aims to reduce, not eliminate, currency risk.


4 The underlying fund manager of the underlying fund may deduct a performance based fee from this underlying fund. This charge is additional to the total yearly charge shown. For further information please refer to the offering documents of the underlying fund.

5 As the underlying fund employs both long and short strategies, extreme market conditions could theoretically expose the underlying fund to unlimited losses. Such extreme conditions could result in little or no growth and may result in losses to your original investment. Only investors seeking long-term growth over a five to ten year horizon with at least moderate volatility should consider this investment choice.

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ZI JPMorgan Asia Resources Fund CHUSD Specialist 1.50% 50 (formerly known as ZI JF 5 Elements Fund and ZI JF Asia Resources Fund)

ZI JPMorgan Emerging Middle East JGUSD Emerging Markets 1.50% 43 Equity Fund Equity

ZI JPMorgan Funds India Fund JIUSD Far Eastern Equity 1.50% 39 (formerly known as ZI JPMorgan JF India Fund)

ZI JPMorgan Funds Singapore Fund CZUSD Far Eastern Equity 1.50% 40 (formerly known as ZI JPMorgan JF Singapore Fund)

ZI JPMorgan Funds Taiwan Fund IYUSD Far Eastern Equity 1.50% 40 (formerly known as ZI JPMorgan JF Taiwan Fund)

ZI JPMorgan Global Consumer 6AUSD Specialist 1.50% 50 Trends Fund

ZI JPMorgan Global Dynamic Fund CJUSD Global Equity 1.50% 30

ZI JPMorgan Global Natural Resources ILEUR Specialist 1.50% 50 EUR Fund

ZI JPMorgan Global Natural Resources CIUSD Specialist 1.50% 51 USD Fund

ZI JPMorgan Indonesia Fund JRUSD Far Eastern Equity 1.50% 40 (formerly known as ZI JF Indonesia Fund)

ZI JPMorgan Japan OTC Fund6 JFJPY Smaller Companies 1.75% 52(formerly known as ZI JF OTC Japan Fund)

ZI JPMorgan Korea Fund JEUSD Far Eastern Equity 1.50% 40 (formerly known as ZI JF Korea Fund)

ZI JPMorgan Malaysia Fund DIUSD Far Eastern Equity 1.50% 41 (formerly known as ZI JF Malaysia Fund)

ZI JPMorgan Pacific Securities Fund JAUSD Far Eastern Equity 1.50% 41 (formerly known as ZI JF Pacific Securities Fund)

ZI Jupiter Climate Change Solutions HYEUR Specialist 1.50% 51 Fund EUR

ZI Jupiter Climate Change Solutions EDGBP Specialist 1.50% 51 Fund GBP

ZI Jupiter Climate Change Solutions 6JUSD Specialist 1.50% 51 Fund USD

ZI Jupiter India Select Fund 6FUSD Emerging Markets 1.75% 44 Equity

ZI M&G Global Basics Fund EUR FQEUR Global Equity 1.75% 30

ZI M&G Global Basics Fund USD M3USD Global Equity 1.75% 30

ZI M&G Global Leaders Fund EUR FREUR Global Equity 1.75% 30

ZI M&G Global Leaders Fund USD N3USD Global Equity 1.75% 31

ZI Morgan Stanley Investment Funds DCUSD Property 1.40% 27 Asian Property Fund

ZI Morgan Stanley Investment Funds CUUSD Emerging Markets 1.60% 44 Emerging Markets Equity Fund Equity

ZI Morgan Stanley Investment Funds DDUSD Property 1.40% 27 European Property Fund

ZI Morgan Stanley Investment Funds DBUSD Global Bond 0.80% 19 Global Bond Fund

6 This investment choice is closed for subscriptions and switching in. Rights of redemption or switching out remain unchanged.

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ZI PARVEST Bond Best Selection World KAUSD Emerging Markets 1.50% 26 Emerging (formerly known as ZI Bond BNPPL1 Bond Best Selection World Emerging)

ZI Parvest Equity Brazil 4TUSD Emerging Markets 1.75% 44 Equity

ZI PARVEST Equity Russia7 KHEUR Emerging Markets 1.75% 44(formerly known as ZI BNPPL1 Equity Russia) Equity

ZI PARVEST Equity World Utilities KGEUR Specialist 1.50% 51 (formerly known as ZI BNPPL1 Equity World Utilities)

ZI PARVEST Opportunities USA KKUSD North American 1.50% 32 (formerly known as ZI BNPPL1 Equity Opportunities USA)

ZI PineBridge Latin America Small & FRUSD Emerging Markets 1.30% 45 Mid Cap Equity Fund3 Equity

ZI Schroder Alternative Solutions CNUSD Specialist 1.50% 52 Commodity Fund6

ZI Schroder Alternative Solutions L7USD Specialist 1.50% 52 Gold and Precious Metals Fund

ZI Schroder ISF Asian Bond Absolute CBUSD Alternative 1.25% 54 Return Fund5 Investments

ZI Schroder ISF BRIC Fund CCUSD Emerging Markets 1.50% 45 Equity

ZI Schroder ISF Emerging Markets OSUSD Alternative 1.50% 54 Debt Absolute Return USD Fund Investments

ZI Schroder ISF Global Climate Change CLUSD Specialist 1.50% 52 Equity Fund

ZI Schroder ISF Global Inflation Linked BLEUR Global Bond 0.75% 19 Bond EUR Fund5

ZI Schroder ISF Global Inflation Linked GAUSD Global Bond 0.75% 19Bond USD Fund1, 5

ZI Templeton Asian Bond Fund3 4QUSD Asian Bond 0.75% 25

ZI Templeton BRIC Fund3 TFUSD Emerging Markets 1.60% 45 Equity

ZI Templeton Emerging Markets Fund3 TBUSD Emerging Markets 1.60% 45 Equity

ZI Templeton Global Bond Fund3 TEUSD Global Bond 0.75% 19

ZI Templeton Global Smaller TAUSD Smaller Companies 1.00% 53 Companies Fund3

ZI Templeton Global Total Return Fund3 TDUSD Global Bond 0.75% 20




6 This investment choice is closed for subscriptions and switching in. Rights of redemption or switching out remain unchanged.7 Please note the underlying fund may hold highly volatile investments and investors in this investment choice should be prepared to accept

significant volatility and losses, particularly in the short-term.

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The above investment choices are subject to the AMC charged by the underlying fund managers which cover the running and management costs for the underlying fund. These charges will range from 0.75% to 2.00% per annum of the net asset value of the underlying funds which depending on the investment choice(s) chosen. The charges will be reflected in the unit prices of the underlying fund.

The above investment choices are also subject to a charge of 0.75% per annum of the net asset value of the investment choice imposed by Zurich International Life to cover accounting, reporting and administration costs of the investment choices. The charges will be reflected in the unit prices of the investment choices.

The underlying funds corresponding to the above investment choices may have certain proportion of its assets, directly or indirectly, invested into different types of derivative instruments. For details, please refer to the Details of investment choices managed by external investment managers section of this brochure and the offering documents of the relevant underlying funds corresponding to the investment choices. The offering documents of the underlying funds can be obtained from our Zurich International Life representative, your broker or your financial adviser. Other fees, charges and expenses in relation to the underlying funds could also adversely affect the value of a unit in respect of the relevant underlying fund. Please see the offering documents of the relevant underlying funds for details.

Zurich International Life reserves the right to vary any fees and charges by giving you not less than three months prior written notice or such shorter period of notice in compliance with the relevant regulatory requirements.

ZI Threadneedle American Fund EQUSD North American 1.00% 33 Equity

ZI Threadneedle American SCUSD Smaller Companies 1.00% 53 Smaller Companies Fund

ZI Threadneedle Asia Fund PBUSD Far Eastern Equity 1.00% 41

ZI Threadneedle Dollar Bond Fund BNUSD US Dollar Bond 1.00% 21

ZI Threadneedle Emerging Market EBUSD Emerging Markets 1.50% 26 Bond Fund Bond

ZI Threadneedle European Bond Fund BNEUR Euro Bond 1.00% 21

ZI Threadneedle European Smaller SCEUR Smaller Companies 1.00% 53 Companies Fund

ZI Threadneedle Global Bond Fund IBUSD Global Bond 1.25% 20

ZI Threadneedle Global Select Fund GSUSD Global Equity 1.50% 31

ZI Threadneedle Japan Fund EQJPY Japanese Equity 1.00% 42

ZI Threadneedle Latin America Fund LAUSD Emerging Markets 1.00% 46 Equity

ZI Threadneedle Pan European Fund EQEUR European Equity 1.00% 34

ZI Threadneedle Sterling Bond Fund BNGBP Sterling Bond 1.00% 20

ZI Threadneedle UK Fund EQGBP UK Equity 1.00% 31

ZI Threadneedle UK Smaller SCGBP Smaller Companies 1.00% 53 Companies Fund

ZI UBS Australian Equity Fund UDAUD Far Eastern Equity 1.50% 41


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Name of investment choices Investment Asset class Investment Page choice code Choice's AMC no. (per annumn of the net asset value of the investment choice)

The investment choices available under Futura II are marked with #.

Eagle Money Market Fund SEEGL Money Market 0.75% 55

Euro Money Market Fund SEEUR Money Market 0.75% 55

Japanese Yen Money Market Fund SEJPY Money Market 0.75% 56

Sterling Money Market Fund SEGBP Money Market 0.75% 56

Swiss Franc Money Fund SECHF Money Market 0.75% 57

US Dollar Money Market Fund SEUSD Money Market 0.75% 57

Euro Guaranteed Accumulation Fund# GFEUR GAF 0.50% 58

Sterling Guaranteed Accumulation Fund# GFGBP GAF 0.50% 60

US Dollar Guaranteed Accumulation Fund# GFUSD GAF 0.50% 62

Eagle Adventurous Fund ADEGL Managed Adventurous 1.50% 71

Eagle Blue Chip Fund BCEGL Managed Blue Chip 1.50% 67

Eagle Performance Fund PFEGL Managed Performance 1.50% 69

Euro Adventurous Fund ADEUR Managed Adventurous 1.50% 71

Euro Blue Chip Fund# BCEUR Managed Blue Chip 1.50% 67

Euro Cautious Fund CAEUR Managed Cautious 1.50% 65

Euro Defensive Fund DEEUR Managed Defensive 1.50% 64

Euro Performance Fund PFEUR Managed Performance 1.50% 69

Sterling Adventurous Fund ADGBP Managed Adventurous 1.50% 72

Sterling Blue Chip Fund# BCGBP Managed Blue Chip 1.50% 68

Sterling Cautious Fund CAGBP Managed Cautious 1.50% 66

Sterling Defensive Fund DEGBP Managed Defensive 1.50% 64

Sterling Performance Fund PFGBP Managed Performance 1.50% 70

US Dollar Adventurous Fund ADUSD Managed Adventurous 1.50% 72

US Dollar Blue Chip Fund# BCUSD Managed Blue Chip 1.50% 68

US Dollar Cautious Fund CTUSD Managed Cautious 1.50% 66

US Dollar Defensive Fund DFUSD Managed Defensive 1.50% 65

US Dollar Performance Fund PFUSD Managed Performance 1.50% 70

The above investment choices are subject to the AMC from 0.5% to 1.5% per annum of net asset value of the investment choices imposed by Zurich International Life. The above investment choices may have a certain proportion of assets, directly or indirectly, invested in different types of derivative instruments. For details, please refer to Details of investment choices internally managed by Zurich International Life section of this brochure.

List of investment choices internally managed by Zurich International Life

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Aberdeen Asset ManagementAberdeen Asset Management PLC is a global investment management group. They operate independently and only manage assets for third parties, allowing them to focus on their clients needs, without conflicts of interest. Aberdeen now manages USD322.4 billion (as at 31 March 2013) of third party assets from their offices around the world. Their clients access their investment expertise across three asset classes: equities, fixed income and property. Aberdeen package their skills in the form of segregated and pooled products across borders. They invest worldwide and follow a predominantly long-only approach, and do not chase market fads. Aberdeens investment teams are based in the markets or regions in which they invest.

Allianz Global InvestorsAllianz Global Investors, an integral part of Allianz SEs asset management business, is a trusted partner for clients across all major asset classes and regions and with EUR316 billion total assets under management (as at 31 March 2013). AllianzGIs teams can be found in 18 markets worldwide, with a strong presence in the US, Europe and Asia-Pacific. With approximately 500 investment professionals and an integrated investment platform, AllianzGI covers all major business centres and growth markets. Its global capabilities are delivered through local teams to ensure best-in-class service. Generating an information advantage is fundamental to AllianzGIs investment philosophy and is achieved via specialised in-house research teams across the globe. AllianzGI provides one-stop solutions for complex client needs bringing together proven competencies in investment strategy consulting and analytics, risk management as well as pension investing and related-vehicles.

Investment experts

Amundi Asset ManagementAmundi was formed by combining the asset management expertise of two major banking groups: Credit Agricole and Societe Generale. This partnership reflects the two groups shared vision of asset management, responding to the new challenges facing the industry and allowing them to serve their clients more effectively. Amundi ranks first in Europe1

and ninth worldwide2 among the players in asset management with US$955.50 billion under management3. Located at the heart of the main investment regions in some 30 countries, Amundi offers a comprehensive range of products covering all asset classes and major currencies.

1 Total net assets Source : IPE Top 400 global asset managers active in the European marketplace published in June 2013, data as at December 2012.

2 Source : Europerformance NMO March 2013 French domiciled funds

3 Amundi Group figures as at 31 March 2013

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Barings Asset ManagementBarings Asset Management is a global investment management firm with offices, clients and business lines spanning the worlds major markets. They provide asset management services in developed and emerging equity and bond markets on behalf of institutional, retail and private clients worldwide, and have USD60.1 billion of assets under management (as at 31 May 2013). Since the foundation of Barings Bank in 1762, the common thread linking their past to their present has been their ability to help clients benefit from changes in the markets. This tradition continues today as they invest client assets across global markets using the proprietary insights generated by a team of over 100 investment professionals. By combining insights that cut across location, sector and asset classes, Baring Asset Management offers a unique world view into todays economies and markets. Their investment professionals based around the world in London, Tokyo, Hong Kong and Boston, combine this informed perspective with local knowledge and presence to seek out investment opportunities with the potential to perform well and deliver the returns investors demand. Today, Baring Asset Management operates as a subsidiary of Mass Mutual Financial Group, a leading diversified financial services organisation.

BlackRockBlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2013, BlackRocks AUM was USD3.857 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions. Headquartered in New York City, as of June 30, 2013, the firm has approximately 10,700 employees in 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.

BNP Paribas Investment PartnersBNP Paribas Investment Partners is the asset management arm of the BNP Paribas Group. With EUR478 billion of assets under management (as at 30 June 2013) and more than 3,800 staff operating in 44 countries, they offer a full range of investment management services to institutional clients and distributors wherever they are based. BNP Paribas Investment Partners is made up of several specialist companies (Partners) with a distinct investment philosophy and business scope, whether that be in terms of asset classes or regions covered. BNP Paribas Asset Management is their largest partner and manages the majority of the mainstream asset classes. A number of their partners are specialists in a particular asset class or field (mainly alternatives and multi-management) and operate as boutique-like structures, while several local and regional solution providers cover a specific geographical region and/or client base.

DWS InvestmentsDWS Investments is the mutual fund arm of Deutsche Asset Management, a leading mutual fund company in Germany, with EUR207 billion (as at 31 December 2012) assets under management (AUM). Founded in 1956, DWSs activities span not only Europe, over the last few years, the DWS Investments brand has been rolled out to cover countries and products across the Americas and Asia Pacific. DWS has outstanding expertise in all important markets worldwide. Its international network enables it to identify market trends at an early stage and swiftly translate them into investment ideas. By bringing the right products to market at the right time, DWS turns current market conditions into investment opportunities.

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Fidelity Worldwide InvestmentFidelity Worldwide Investment Fidelity is one of the global leaders in asset management, providing investment products and services to individuals and institutions in the UK, continental Europe, the Middle East and Asia Pacific.

Established in 1969, the company has over 6,000 staff in 24 countries and manages or administers client assets of USD305.5 billion as at 30 June 2013. It has over five million customer holdings and manages more than 660 equity, fixed income, property and asset allocation funds.

The companys fund managers receive research from one of the largest proprietary research teams, based in 12 countries around the world. Fidelity Worldwide Investment is an independent asset management company which is privately owned.

Fidelity established its Hong Kong business in 1981 as part of its commitment to the Asia Pacific ex-Japan market. Fidelity currently offers more than 200 Fidelity-managed mutual fund choices to investors directly and through over 100 distributors, including retail banks and insurance companies.

First State InvestmentsFirst State Investments is the international operation of Colonial First State Global Asset Management (CFSGAM), the specialist asset management business of the Commonwealth Bank of Australia. CFSGAM is one of the largest Australian-based investment managers with offices in Sydney, Melbourne, Auckland, London, Edinburgh, Paris, Frankfurt, New York, Hong Kong, Singapore, Jakarta and Tokyo.

First State Investments offers a range of product solutions to institutional and retail investors globally across a diverse range of asset classes, including Australian equities, global equities, Asia Pacific and global emerging markets, global resources, global property securities, global listed infrastructure securities, global fixed interest and credit, emerging market debt, short-term investments, direct property and infrastructure investments.

The approach of First State Investments is driven by a commitment to providing the best possible outcomes over the long-term for their investors. To achieve this, they ensure their interests are aligned with their investors and uphold a culture of always acting in their clients best interests.

Franklin Templeton InvestmentsFranklin Templeton Investments has been a leader in the field of global equity investment for over 65 years. It is part of the Franklin Resources Inc. Group and employs over 8,600 employees located in 35 countries worldwide. Franklin Templeton Investments has grown into one of the worlds most diverse and highly respected investment companies. The Templeton value style investment approach focuses on a global search for undervalued securities, aiming to identify investments delivering long-term profit rather than short-term gains. Templeton, well known as a pioneer in emerging markets investing, employs 22 managers and analysts with specific expertise in the emerging markets field to research value opportunities. Franklin offers investors growth, value and fixed income funds, as well as several focused sector portfolios. Franklins range of fixed income funds offers investors the combination of reduced risk and regular monthly income. Being a leader in the bond fund market, Franklins size and presence allow portfolio managers to review thousands of bond issues thoroughly and early.

Henderson Global InvestorsHenderson Global Investors, wholly-owned by Henderson Group plc, which is dual-listed on the London Stock Exchange and Australian Securities Exchange. Henderson Group is a constituent of the FTSE 250 and S&P/ASX 200 indices. Henderson Group plc is a pure, independent investment manager built around autonomous teams of portfolio managers. All their global resources, infrastructure and distribution are geared towards supporting these teams. The Groups strategic focus is the development of Henderson as a leading investment manager, based around their core fixed income, equity and property capabilities as well as their offering of alternative products, such as private equity and hedge funds. With its principal place of business in London, Henderson has more than GBP68.9 billion assets under management (as at 31 March 2013) employing more than 1,000 people worldwide.

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HSBC Global Asset ManagementHSBC Global Asset Management is a well-established business in Europe, the Asia-Pacific regional, North America, Latin America and the Middle East. They are the core investment management business within the HSBC Group. HSBC Global Asset Management is well placed to provide a globally-consistent, disciplined, investment process across their capabilities which draw on the local knowledge and expertise of the team of over 500 investment professionals across 20 countries around the world.

InvescoInvesco is part of a leading independent global investment management company Invesco Ltd, which currently manages assets of over USD729.3 billion (as at 31 March 2013). Dedicated to helping people worldwide build their financial security, the company strives to deliver outstanding performance and service to both retail and institutional clients. Investors are able to access the investment expertise of fund managers located across the worlds major markets through a wide range of investment products which include equity, bond, real estate and structured investments.

J.P. Morgan Asset ManagementJ.P. Morgan Asset Management is the asset management division of JPMorgan Chase&Co. and is a leading asset manager of choice for institutions, financial intermediaries and individual investors, worldwide. With a heritage of more than two centuries, a broad range of core and alternative strategies, and investment professionals operating in every major world market, they offer investment experience and insight that few other firms can match.

Assets under management of USD1.5 trillion (as at 31 March 2013).

Employing 749 investment professionals providing over 350 different strategies spanning the full spectrum of asset classes, including equity, fixed income, cash liquidity, currency, real estate, hedge funds and private equity.

Clear focus on managing client assets and deliveringstrong risk adjusted returns.

Leadership positions in America, UK, Continental Europe, Asia, and Japan.

Investec Asset ManagementInvestec Asset Management is a specialist, independent provider of active investment products and services to institutional and individual investors. Established in South Africa in 1991, the firm has been built from a small start up into an international business managing USD105 billion (as at 31 March 2013) on behalf of third party clients. The business has grown organically from domestic roots in Southern Africa to a position where they proudly serve a growing international client base from the Americas, the UK and Continental Europe, Asia, the Middle East, Australia and Africa. They employ over 125 investment professionals. The firm is still managed by its founding members, representing continuity and stability throughout the firms successful growth. The firm seeks to create a profitable partnership between clients, shareholders and employees and their aim is to exceed their clients investment and client service expectations and to manage their money to the highest possible standard. Investec Asset Management is a significant component and independently managed entity within the Investec Group, which is listed in London and Johannesburg.

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Jupiter Asset ManagementFounded in 1985, Jupiter is a leading investment management business focused on generating investment outperformance across its diverse range of products, which include the UK, European and emerging markets equities, specialist equities (such as financial sector equities and environmental equities), multi-manager products, convertibles, fixed income and absolute return strategies. Jupiter is committed to active fund management, aiming to add value for clients by selecting shares and securities which they believe are capable of producing superior returns over time without exposing clients to unnecessary levels of risk. Jupiter manages GBP29 billion (as at 30 June 2013) in total assets on behalf of retail, institutional and private clients across a number of different geographies and markets.

M&GSince 1931, when M&G launched the UKs first unit trust, they have believed in offering their clients straightforward products together with clear and balanced information to help them make the right investment decisions. Currently M&G have over GBP210.1 billion under management (as at 31 March 2013). Their fund managers are highly skilled specialists who dont follow the latest investment fashions. Instead, they each have their own individual and rigorous approaches based on delivering the best results for their clients investments over the long-term. M&G recently awarded OBSRs Outstanding Investment House of 2011, their philosophy is based on a bottom-up approach to investing. They have a boutique culture designed to generate alpha for a large scale of assets. Their focus is on in-house research to identify investment opportunities. Their fund range is designed to provide attractive investment choices across a range of asset classes including equities, fixed interest, property and multi asset.

Morgan Stanley Investment ManagementMorgan Stanley Investment Management (MSIM) provides global asset management products and services in equity, fixed income and alternative investment products to institutional and retail clients through proprietary and third-party distribution channels, intermediaries and the companys institutional distribution channel. MSIM have USD347 billion in assets under management and supervision (as at 30 June 2013). MSIM is part of Morgan Stanley, a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The firms employees serve clients worldwide, including corporations, governments, institutions and individuals from more than 42 offices in 17 countries.

PineBridge Investments PineBridge Investments manage assets for institutional and individual clients across an extensive platform of listed equity, fixed income, private equity and hedge funds. With a heritage dating from the 1960s, PineBridge is an independent multi-product investment adviser with USD71.5 billion (as of 31 March 2013) in assets under management majority-owned by a subsidiary of Pacific Century Group (PCG), an Asia-based private investment group. Prior to the organizations sale to PCG in March 2010, PineBridge investments was part of the investment advisory and asset management businesses of AIG, Inc. PineBridges legacy in investment management dates back to early 1960s with AIG entities managing assets.

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SchrodersAt Schroders, asset management is their business and their goals are completely aligned with those of their clients the creation of long-term value. They manage USD359.2 billion (as at 31 March 2013) on behalf of institutional and retail investors, financial institutions and high net worth clients from around the world, invested in a broad range of asset classes across equities, fixed income and alternatives. They employ 3,059 talented people worldwide operating from 32 offices in 27 different countries across Europe, the Americas, Asia and the Middle East, close to the markets in which they invest and close to their clients. Schroders has developed under stable ownership for over 200 years and long-term thinking governs their approach to investing, building client relationships and growing their business.

ThreadneedleThreadneedle is a leading international investment manager with a strong track record of outperformance across asset classes. They actively manage USD127.6 billion (as at 31 March 2013) of assets, investing on behalf of individuals, pension funds, insurers and corporations. Established in 1994 in London, Threadneedle operates in 16 countries across Europe, the Middle East, Asia Pacific and North America. Threadneedles distinctive investment approach is based on creative thinking, sharing of ideas and rigorous debate. Their 150 investment professionals invest across developed and emerging market equities, fixed income, commodities and UK property. Threadneedle is owned by Ameriprise Financial (NYSE: AMP), a leading US diversified financial services company.

UBS Global Asset ManagementUBS Global Asset Management, a business division of UBS, is a large-scale asset manager with businesses well-diversified across regions, capabilities and distribution channels. It offers investment capabilities and investment styles across major traditional and alternative asset classes. These include equity, fixed income, currency, hedge fund, real estate and infrastructure investment capabilities which can be combined into multi-asset strategies. The fund services unit provides professional services including legal fund set-up, accounting and reporting for traditional investment funds and alternative funds.

UBS Global Asset Management has CHF599 billion total invested assets (as at 31 March 2013) and has around 3,800 employees, located in 24 countries. They draw great strength from accessing the resources of UBS both in terms of access to capital and shared resources where appropriate.

UBS Global Asset Management provides a diverse range of traditional, alternative, real estate and infrastructure investment solutions to private clients, financial intermediaries and institutional investors around the globe. Their approach combines the global expertise of investment professionals with sophisticated risk management processes and systems, helping them provide clients with products and services to meet their specific needs.

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Details of investment choices managed by external investment managers

Money MarketZI Fidelity Currency EUR Fund Code: DVEUR Currency: EUR Underlying Fund: Fidelity Funds II Euro Currency Fund Underlying Fund Manager: FIL Fund Management Limited

Investment objective of the underlying fund:The fund aims to invest primarily in euro denominated debt securities and other permitted assets.

ZI Fidelity Currency GBP Fund Code: BXGBP Currency: GBP Underlying Fund: Fidelity Funds II Sterling Currency Fund Underlying Fund Manager: FIL Fund Management Limited

Investment objective of the underlying fund:The fund aims to invest primarily in sterling denominated debt securities and other permitted assets.

ZI Fidelity Currency USD Fund Code: OYUSD Currency: USD Underlying Fund: Fidelity Funds II US Dollar Currency Fund Underlying Fund Manager: FIL Fund Management Limited

Investment objective of the underlying fund: The fund aims to invest primarily in US dollar denominated debt securities and other permitted assets.

Global BondZI BlackRock Global Funds Global Government Bond EUR1 Code: ALEUR Currency: EUR Underlying Fund: BlackRock Global Funds Global Government Bond Fund Hedged (EUR) Underlying Fund Manager: BlackRock (Luxembourg) S.A.

Investment objective of the underlying fund: The fund seeks to maximise total return. The fund invests at least 70% of its total assets in investment grade fixed income transferable securities issued by governments and their agencies worldwide. Currency exposure is flexibly managed.


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ZI BlackRock Global Funds Global Government Bond USDCode: BPUSD Currency: USD Underlying Fund: BlackRock Global Funds Global Government Bond Fund Underlying Fund Manager: BlackRock (Luxembourg) S.A.

Investment objective of the underlying fund: The fund seeks to maximise total return. The fund invests at least 70% of its total assets in investment grade fixed income transferable securities issued by governments and their agencies worldwide. Currency exposure is flexibly managed.

ZI Fidelity International Bond FundCode: FCUSD Currency: USD Underlying Fund: Fidelity Funds International Bond Fund Underlying Fund Manager: FIL Fund Management Limited

Investment objective of the underlying fund:The fund invests in international markets to maximize performance measured in US dollars.

ZI Invesco Bond Fund

Code: OPUSD Currency: USD Underlying Fund: INVESCO Funds Series 2 INVESCO Bond Fund Underlying Fund Manager: Invesco Global Asset Management Ltd

Investment objective of the underlying fund:The objective of the fund is to achieve long-term returns through investment in fixed interest and floating rate securities while maintaining a high income yield.

ZI Invesco Global Bond EUR Fund Code: DNEUR Currency: EUR Underlying Fund: Invesco Funds Invesco Global Bond Fund EUR Underlying Fund Manager: Invesco Management S.A.

Investment objective of the underlying fund:The fund aims to achieve long-term capital growth with income from a diversified portfolio constructed from bonds or other debt instruments, including high yield bonds, issued by governments, supranational bodies, local authorities, national public bodies and corporate issuers worldwide. The fund may also invest, for efficient portfolio management purposes only, in derivative instruments, including credit default swaps as a protection purchaser and seller.

ZI Invesco Global Bond USD Fund Code: OQUSD Currency: USD Underlying Fund: Invesco Funds Invesco Global Bond Fund USDUnderlying Fund Manager: Invesco Management S.A.

Investment objective of the underlying fund:The fund aims to achieve long-term capital growth with income from a diversified portfolio constructed from bonds or other debt instruments, including high yield bonds, issued by governments, supranational bodies, local authorities, national public bodies and corporate issuers worldwide. The fund may also invest, for efficient portfolio management purposes only, in derivative instruments, including credit default swaps as a protection purchaser and seller.

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ZI Morgan Stanley Investment Funds Global Bond Fund Code: DBUSD Currency: USD Underlying Fund: Morgan Stanley Investment Funds Global Bond Fund Underlying Fund Manager: Morgan Stanley Investment Management Limited

Investment objective of the underlying fund:The fund seeks to provide an attractive rate of return, measured in US dollars, through market, instrument, and currency selection. The fund consists of domestic, international and euromarket fixed income securities of varying maturities denominated in US dollars and other currencies including emerging markets.

ZI Schroder ISF Global Inflation Linked Bond EUR Fund5

Code: BLEUR Currency: EUR Underlying Fund: Schroder International Selection Fund Global Inflation Linked Bond EUR Underlying Fund Manager: Schroder Investment Management (Luxembourg) S.A.

Investment objective of the underlying fund:The fund aims to provide a combination of capital growth and income primarily through investment in a portfolio of inflation-linked debt securities issued by governments, government agencies, supra-national and corporate issuers worldwide. The fund also has the flexibility to implement long and short active currency positions either via currency forwards or via the above instruments.

ZI Schroder ISF Global Inflation Linked Bond USD Fund1, 5

Code: GAUSD Currency: USD Underlying Fund: Schroder International Selection Fund Global Inflation Linked Bond USDUnderlying Fund Manager: Schroder Investment Management (Luxembourg) S.A.

Investment objective of the underlying fund: The fund aims to provide a combination of capital growth and income primarily through investment in a portfolio of inflation-linked debt securities issued by governments, government agencies, supra-national and corporate issuers worldwide. The fund also has the flexibility to implement long and short active currency positions either via currency forwards or via the above instruments.

ZI Templeton Global Bond Fund3

Code: TEUSD Currency: USD Underlying Fund: Franklin Templeton Investment Funds Templeton Global Bond Fund Underlying Fund Manager: Franklin Advisers, Inc.

Investment objective of the underlying fund:The funds principal investment objective is to maximise, consistent with prudent investment management, total investment return consisting of a combination of interest income, capital appreciation and currency gains. The fund will seek to achieve its objective by investing primarily in a portfolio of fixed or floating rate debt securities (including non-investment grade securities) and debt obligations issued by government, or government-related issuers worldwide.

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ZI Templeton Global Total Return Fund3

Code: TDUSD Currency: USD Underlying Fund: Franklin Templeton Investment Funds Templeton Global Total Return Fund Underlying Fund Manager: Franklin Advisers, Inc.

Investment objective of the underlying fund:The funds principal investment objective is to maximise, consistent with prudent investment management, total investment return consisting of a combination of interest income, capital appreciation and currency gains. The fund seeks to achieve its objective by investing principally in a portfolio of fixed and/or floating rate debt securities and debt obligations issued by government and government-related issuers or corporate entities worldwide and include investment grade and non-investment grade securities.

ZI Threadneedle Global Bond Fund

Code: IBUSD Currency: USD Underlying Fund: Threadneedle Investment Funds ICVC Global Bond Fund Underlying Fund Manager: Threadneedle Investment Services Limited

Investment objective of the underlying fund:The fund aims to achieve a total return comprising primarily income with some capital growth by investing in a managed portfolio of fixed income securities worldwide.

Sterling BondZI Threadneedle Sterling Bond Fund

Code: BNGBP Currency: GBP Underlying Fund: Threadneedle Investment Funds ICVC Sterling Bond Fund Underlying Fund Manager: Threadneedle Investment Services Limited

Investment objective of the underlying fund:The aim of the fund is to achieve total return primarily by way of income with some capital growth. The fund will invest primarily in UK government securities denominated in sterling and sterling denominated securities issued by governments, government agencies and supranational borrowers.

US Dollar BondZI Franklin US Government Fund3

Code: TCUSD Currency: USD Underlying Fund: Franklin Templeton Investment Funds Franklin U.S. Government Fund Underlying Fund Manager: Franklin Advisers, Inc.

Investment objective of the underlying fund:The funds investment objective is income and safety of principal. The fund seeks to achieve its objective primarily through a policy of investing in debt obligations issued or guaranteed by the US government and its agencies, including purchasing mortgage- and asset-backed securities.


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ZI Threadneedle Dollar Bond Fund

Code: BNUSD Currency: USD Underlying Fund: Threadneedle Investment Funds ICVC Dollar Bond Fund Underlying Fund Manager: Threadneedle Investment Services Limited

Investment objective of the underlying fund:The aim of the fund is to achieve a total return, primarily by way of income, with some capital growth. The fund will invest primarily in US government securities denominated in dollar and dollar denominated securities issued by government, government agencies, corporations and supranational borrowers. If the manager considers it desirable the fund may further invest up to one third of the total assets of the fund in other securities (including other fixed interest securities and money market securities). For liquidity purposes it may invest in cash and near cash.

Euro BondZI INVESCO European Bond Fund

Code: IEUSD Currency: USD Underlying Fund: Invesco Funds Invesco European Bond Fund Underlying Fund Manager: Invesco Management S.A.

Investment objective of the underlying fund:The fund aims to provide long-term growth from a diversified portfolio of bonds denominated in European currencies. The funds portfolio will be constructed from bonds or other debt securities issued by corporations and governments, supranational bodies, local authorities and national public bodies. It is not intended that the fund should invest in equity securities. The fund may also invest, for efficient portfolio management purposes only, in derivative instruments, including credit default swaps as a protection purchaser. The fund can invest up to 30% of its net assets in liquid assets.

ZI Threadneedle European Bond Fund

Code: BNEUR Currency: EUR Underlying Fund: Threadneedle Investment Funds ICVC European Bond Fund Underlying Fund Manager: Threadneedle Investment Services Limited

Investment objective of the underlying fund:The fund aims to achieve total return primarily by way of income with some capital growth. The investment policy is to invest the assets of the fund in European public sector sovereign bonds and corporate bonds, issued by companies domiciled in Europe or with significant European operations, denominated in a range of European currencies. The fund has the flexibility to invest in bonds issued by Eastern European issuers.

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High Yield and Corporate BondZI Baring GUF High Yield Bond Fund

Code: NBUSD Currency: USD Underlying Fund: Baring Global Umbrella Fund Baring High Yield Bond Fund Underlying Fund Manager: Baring International Fund Managers (Ireland) Limited

Investment objective of the underlying fund: The primary investment objective of the fund is to produce a high level of current yield in US dollar terms, commensurate with an acceptable level of risk as determined by the fund manager in their reasonable discretion. Any capital appreciation will be incidental. The fund will invest at least 70% of its assets in a combination of debt and loan securities (including credit linked securities) of corporations and governments (including any agency of government or central bank) of any member state of the Organisation for Economic Co-operation and Development (OECD) and of any developing or emerging markets. The fund will invest principally in sub-investment grade securities that are rated not lower than B- by Standard & Poors (or a similar rating from another internationally recognized rating agency). The fund may also invest in lower grade securities up to 10% of its net assets value.

ZI Invesco Euro Corporate Bond Fund

Code: DMEUR Currency: EUR Underlying Fund: Invesco Funds Invesco Euro Corporate Bond Fund Underlying Fund Manager: Invesco Management S.A.

Investment objective of the underlying fund: The fund is invested to achieve, in the medium to long-term, a competitive overall investment return in euros with relative security of capital in comparison to equities. The fund will invest at least two thirds of its total assets (without taking into account ancillary liquid assets) in debt securities or instruments denominated in euro issued by corporate issuers.

The fund will invest primarily in investment grade (Moodys Baa or higher) fixed and floating rate bonds and other debt securities which, in the opinion of the investment adviser, have a comparable credit quality issued by corporations in any part of the world or issued or guaranteed by any government, government agency, supranational or public international organisation in any part of the world.

The fund may invest in non-investment grade securities which generally will not exceed 30% of the net assets of the fund.

Up to one third of the total assets of the fund (without taking into account ancillary liquid assets) may be invested in non-euro debt instruments or debt instruments issued by public international debtors. Investments not denominated in the euro are intended to be hedged back into euro at the discretion of the investment adviser.

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ZI Invesco Global High Income FundCode: ORUSD Currency: USD Underlying Fund: INVESCO Funds Series 2 INVESCO Global High Income Fund Underlying Fund Manager: Invesco Global Asset Management Ltd

Investment objective of the underlying fund: The objective of the fund is to achieve long-term returns through investments in a spread of debt securities in developed and emerging countries while maintaining a high income yield. The manager will seek to achieve the investment objective by investing worldwide in a geographically diversified portfolio of debt securities providing a spread among various major currencies and maturities and comprising any or all of the following types of security:

(a) bonds and debentures issued by governments, local authorities and public authorities worldwide;

(b) corporate bonds and debentures whether secured or unsecured (including securities convertible into or exchangeable for equity shares) which will have a minimum credit rating of sub-investment grade as rated by a recognised credit agency, being Moodys, Standard and Poors or Fitch, or deemed to be of equivalent quality in the judgment of the Investment Adviser; and

(c) debt securities issued by public international bodies such as the European Investment Bank, International Bank for Reconstruction and Development or such other body which is, in the opinion of the manager and the trustee, of similar standing. Such debt securities will be mainly traded in or dealt on any recognised market.

ZI Investec GSF Investment Grade Corporate Bond EUR Fund1

Code: FTEUR Currency: EUR Underlying Fund: Investec Global Strategy Fund Investment Grade Corporate Bond Fund (EUR Hedged) Underlying Fund Manager: Investec Asset Management Limited

Investment objective of the underlying fund:The fund aims to generate a high level of income, with the opportunity for capital gain, from a diversified portfolio of fixed and floating rate securities, normally denominated in US dollars and issued by governments, institutions and corporations in both developing and developed countries. When judged appropriate, the portfolio may be held in fixed interest securities denominated in currencies other than US dollars, with the relevant currency exposure hedged back into U.S. dollars. Careful attention is paid to the quality and marketability of the securities held by the fund. The fund may enter into OTC derivatives limited to foreign exchange forward contracts and for efficient portfolio management purposes only.


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ZI Investec GSF Investment Grade Corporate Bond USD Fund

Code: G3USD Currency: USD Underlying Fund: Investec Global Strategy Fund Investment Grade Corporate Bond Fund (USD) Underlying Fund Manager: Investec Asset Management Limited

Investment objective of the underlying fund:The fund aims to generate a high level of income, with the opportunity for capital gain, from a diversified portfolio of fixed and floating rate securities, normally denominated in U.S. dollars and issued by governments, institutions and corporations in both developing and developed countries. When judged appropriate, the portfolio may be held in fixed interest securities denominated in currencies other than US dollars, with the relevant currency exposure hedged back into U.S. dollars. Careful attention is paid to the quality and marketability of the securities held by the fund. The fund may enter into OTC derivatives limited to foreign exchange forward contracts and for efficient portfolio management purposes only.

Asian BondZI Aberdeen Global Asian Local Currency Short Duration Bond Fund

Code: OMUSD Currency: USD Underlying Fund: Aberdeen Global Asian Local Currency Short Duration Bond Fund Underlying Fund Manager: Aberdeen International Fund Managers Limited

Investment objective of the underlying fund:The funds objective is a long-term total return to be achieved by investing at least two-thirds of the funds assets in short duration local Asian currency denominated debt and debt-related securities issued by governments, supranational institutions or government-related bodies that are domiciled in Asian countries. For the purpose of this fund, short duration shall mean maturity of three years or less.

The fund may utilise techniques and instruments for hedging, investment purposes, efficient portfolio management and/or to manage foreign exchange risks, subject to the conditions and within the limits laid down by the CSSF. In general, these techniques and instruments include, but are not limited to, securities lending and reverse repurchase transactions and forward foreign currency contracts.

Without limiting the generality of the foregoing, the investment adviser may alter the currency exposure of the fund, solely through the use of derivative contracts (without buying or selling underlying transferable securities or currencies). Performance may be strongly influenced by movements in currency rates because the fund may have exposure to a particular currency that is different to the value of the securities denominated in that currency held by the fund. Furthermore, the funds portfolio may be fully or partially hedged back to the base currency if, in the opinion of the investment adviser, this is believed to be appropriate. Regulations in the markets in which the fund invests may require or limit hedging or other use of financial derivative instruments, either explicitly or as a result of the investment adviser managing resultant risk.

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ZI Templeton Asian Bond Fund3

Code: 4QUSD Currency: USD Underlying Fund: Franklin Templeton Investment Funds Templeton Asian Bond Fund Underlying Fund Manager: Franklin Advisers, Inc.

Investment objective of the underlying fund:The fund aims to maximise, consistent with prudent investment management, total investment return consisting of a combination of interest income, capital appreciation and currency gains by investing principally in a portfolio of fixed and floating rate debt securities and debt obligations issued by government and government-related issuers and/or corporate entities located throughout Asia.

Emerging Markets BondZI HSBC Global Emerging Markets Bond Fund

Code: NUUSD Currency: USD Underlying Fund: HSBC Global Investment Funds Global Emerging Markets Bond Underlying Fund Manager: HSBC Investment Funds (Luxembourg) S.A.

Investment objective of the underlying fund:The fund invests for total return primarily in a diversified portfolio of investment grade and non-investment grade rated fixed income (e.g. bonds) and other similar securities either issued by companies which have their registered office in emerging markets around the world, primarily denominated in US dollars, or which are issued or guaranteed by governments, government agencies and supranational bodies of emerging markets.

The fund may invest more than 10% and up to 30% of its net assets in securities issued by and/or guaranteed by a single sovereign issuer with a non-investment grade credit rating. This is due to the fact that the funds reference benchmark, the JP Morgan Emerging Market Bond Index, may contain sovereign issuers that may have a non-investment grade rating. The investment adviser may decide to invest in a specific noninvestment grade sovereign issuer and/or to overweight (in relation to the reference benchmark) a particular non-investment grade sovereign issuer.

The non-investment grade sovereign issuers that the fund may invest up to 30% of its net assets in include, but are not limited to, Venezuela, Turkey and the Philippines. However, this list may change at any time as a result of: changes in credit ratings, changes in the funds benchmark weights, the Investment Advisers decision to allocate a higher or lower proportion of the funds net assets to a particular benchmark constituent and/ or market movements.

The fund does not intend to use financial derivative instruments extensively for investment purposes. However, the fund may also invest in financial derivative instruments such as futures, forwards (including non-deliverable forwards), swaps, options, credit default swaps, as well as other structured products. The fund intends to use such financial derivative instruments for, inter alia, return enhancement, hedging, tax-efficient access to instruments and whenever the investment adviser believes the investment in financial derivative instruments will assist the fund in achieving its investment objectives.


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ZI Invesco Emerging Local Currencies Debt Fund

Code: 4YUSD Currency: USD Underlying Fund: Invesco Funds Invesco Emerging Local Currencies Debt Fund Underlying Fund Manager: Invesco Management S.A.

Investment objective of the underlying fund:The objective of the fund is to achieve long-term capital growth and high income. The fund will invest at least two thirds of its total assets (after deduction of ancillary liquid assets) in a flexible allocation of cash, debt securities (including corporate bonds, and bonds issued by supranational organisations) and financial derivative instruments which are denominated in the currency of emerging market countries.

The investment adviser intends to invest in securities and derivatives within the investment universe which is defined as all cash, debt securities (including asset backed securities), financial derivative instruments on debt and credit markets and all currencies worldwide. Debt securities may originate from emerging markets but may also be issued by developed markets. Derivatives can be used to take both long and short positions in all markets within the investment universe. Derivatives may include (but are not limited to) futures, forwards, non-deliverable forwards, forward rate agreements, swaps such as credit default swaps, interest rate swaps, total return swaps and complex option structures such as straddles. In addition, derivatives may incorporate structured notes including but not limited to credit linked notes, deposit linked notes or total return notes. The fund may also take active currency positions on all currencies worldwide through the use of derivatives.

ZI PARVEST Bond Best Selection World Emerging (formerly known as ZI BNPPL1 Bond Best Selection World Emerging)

Code: KAUSD Currency: USD Underlying Fund: PARVEST Bond Best Selection World Emerging (formerly known as BNP Paribas L1 Bond Best Selection World Emerging) Underlying Fund Manager: BNP Paribas Investment Partners LuxembourgI

Investment objective of the underlying fund:The fund aims to increase asset value in the medium-term. This fund invests at least two thirds of its assets in a limited number of bonds and debt securities or other similar securities issued by emerging countries defined as non OECD countries prior to 1 January 1994 together with Turkey or by companies characterised by a strong financial structure and/or potential for profitable growth that have their registered offices or conduct a majority of their business activities in these countries, as well as in derivative financial instruments on this type of asset.

ZI Threadneedle Emerging Market Bond Fund

Code: EBUSD Currency: USD Underlying Fund: Threadneedle Investment Funds ICVC Emerging Market Bond Fund Underlying Fund Manager: Threadneedle Investment Services Limited

Investment objective of the underlying fund:The fund aims to achieve a total return primarily by way of income with some capital growth. The investment policy is to invest in high yielding public sector sovereign and corporate bonds issued by emerging market borrowers.

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PropertyZI Henderson Horizon Asia Pacific Property Equities Fund4

Code: EFUSD Currency: USD Underlying Fund: Henderson Horizon Fund Asia-Pacific Property Equities Fund Underlying Fund Manager: Henderson Fund Management (Luxembourg) S.A.

Investment objective of the underlying fund:The fund seeks long-term capital appreciation by investing at least 75% of its assets in the quoted equities of companies or real estate investment trusts (or its equivalents) having their registered office in the Asia Pacific region and listed or traded on a regulated market which derive the predominant part of their revenue from the ownership, management and/or development of real estate in the Asia Pacific region.

ZI Henderson Horizon Global Property Equities Fund4

Code: BAUSD Currency: USD Underlying Fund: Henderson Horizon Fund Global Property Equities Fund Underlying Fund Manager: Henderson Fund Management (Luxembourg) S.A.

Investment objective of the underlying fund:The fund seeks long-term capital appreciation by investing in the quoted equity securities of companies or real estate investment trusts (or equivalents) listed or traded on a regulated market which derives the main part of their revenue from the ownership, management and/or development of real estate, throughout the world.

ZI Morgan Stanley Investment Funds Asian Property Fund

Code: DCUSD Currency: USD Underlying Fund: Morgan Stanley Investment Funds Asian Property Fund Underlying Fund Manager: Morgan Stanley Investment Management Limited

Investment objective of the underlying fund:The fund seeks to provide long-term capital appreciation, measured in US dollars, through investment in the equity securities of companies in the real estate industry located throughout Asia and Oceania. Companies in the real estate industry may include companies principally engaged in the development and/or ownership of income-producing property and collective investment vehicles with exposure to property such as publicly quoted property unit trusts, real estate investment trusts and undertakings for collective investment.

ZI Morgan Stanley Investment Funds European Property Fund

Code: DDUSD Currency: USD Underlying Fund: Morgan Stanley Investment Funds European Property Fund Underlying Fund Manager: Morgan Stanley Investment Management Limited

Investment objective of the underlying fund:The fund seeks to provide long-term capital appreciation, measured in euro, through investment in the equity securities of companies in the European real estate industry. Companies in the real estate industry may include property development companies, companies principally engaged in the development and/or ownership of income-producing property and collective investment vehicles with exposure to property such as publicly quoted property unit trusts, real estate investment trusts and undertakings for collective investment.

4 The underlying fund manager of the underlying fund may deduct a performance based fee from this underlying fund. This charge is additional to the total yearly charge shown. For further information please refer to the offering documents of the underlying fund.

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Managed BalancedZI BlackRock Global Funds Global Allocation EUR1

Code: BHEUR Currency: EUR Underlying Fund: BlackRock Global Funds Global Allocation Fund EUR Underlying Fund Manager: BlackRock (Luxembourg) S.A.

Investment objective of the underlying fund:The fund seeks to maximise total return. The fund invests globally in equity, debt and short-term securities, of both corporate and governmental issuers, with no prescribed limits. In normal market conditions the fund will invest at least 70% of its total assets in the securities of corporate and governmental issuers. The fund generally will seek to invest in securities that are, in the opinion of the investment adviser, undervalued. The fund may also invest in the equity securities of small and emerging growth companies. The fund may also invest a portion of its debt portfolio in high yield fixed income transferable securities. Currency exposure is flexibly managed.

ZI BlackRock Global Funds Global Allocation USD

Code: ERUSD Currency: USD Underlying Fund: BlackRock Global Funds Global Allocation Fund USD Underlying Fund Manager: BlackRock (Luxembourg) S.A.

Investment objective of the underlying fund:The fund seeks to maximise total return. The fund invests globally in equity, debt and short-term securities, of both corporate and governmental issuers, with no prescribed limits. In normal market conditions the fund will invest at least 70% of its total assets in the securities of corporate and governmental issuers. The fund generally will seek to invest in securities that are, in the opinion of the investment adviser, undervalued. The fund may also invest in the equity securities of small and emerging growth companies. The fund may also invest a portion of its debt portfolio in high yield fixed income transferable securities. Currency exposure is flexibly managed.

Global EquityZI BlackRock Global Funds Global Enhanced Equity Yield

Code: FIUSD Currency: USD Underlying Fund: BlackRock Global Funds Global Enhanced Equity Yield Fund Underlying Fund Manager: BlackRock (Luxembourg) S.A.

Investment objective of the underlying fund:The fund seeks to generate a high level of income. The fund invests globally, with no prescribed country or regional limits, at least 70% of its total assets invest in equity securities. The fund makes use of derivatives in a way that is fundamental to its investment objective in order to generate additional income.

1 This underlying fund is a hedged share class which aims to provide investors with a return correlated to the base currency performance of the underlying fund, by reducing the effect of exchange rate fluctuations between the base and hedged currency. It is important to note that the hedge is not perfect it aims to reduce, not eliminate, currency risk.

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ZI Fidelity International Fund

Code: FAUSD Currency: USD Underlying Fund: Fidelity Funds International Fund Underlying Fund Manager: FIL Fund Management Limited

Investment objective of the underlying fund:The fund invests principally in equities in markets throughout the world including major markets and smaller emerging markets.

ZI Fidelity World Fund

Code: FEEUR Currency: EUR Underlying Fund: Fidelity Funds World Fund Underlying Fund Manager: FIL Fund Management Limited

Investment objective of the underlying fund:The fund invests principally in worldwide equities with the geographical weightings based upon the relative attractiveness of the different regions.

ZI Franklin Mutual Global Discovery Fund3

Code: R2USD Currency: USD Underlying Fund: Franklin Templeton Investment Funds Franklin Mutual Global Discovery Fund Underlying Fund Manager: Franklin Mutual Advisers, LLC.

Investment objective of the underlying fund:The funds investment objective is capital appreciation. The fund pursues its objective principally through investments in common stock, preferred stock and debt securities convertible or expected to be convertible into common or preferred stock of companies of any nation as well as in sovereign debts and participations in foreign government debts that the investment manager believes are available at market prices less than their value based on certain recognised or objective criteria (intrinsic value). The fund primarily invests in mid- and large-cap companies with a market capitalisation around or greater than USD1.5 billion. The fund may also seek to invest in the securities of companies involved in mergers, consolidations, liquidations and reorganisations or as to which there exist tender or exchange offers, and may participate in such transactions. To a lesser extent, the fund may also purchase debt securities, both secured and unsecured, of companies involved in reorganisation or financial restructuring.

ZI Investec GSF Global Strategic Equity Fund

Code: GMUSD Currency: USD Underlying Fund: Investec Global Strategy Fund Global Strategic Equity Fund Underlying Fund Manager: Investec Asset Management Limited

Investment objective of the underlying fund:The fund aims to provide long-term capital growth primarily through investment in equities of listed companies from around the world, which are expected to enhance underlying profitability and Shareholder value through operational or structural improvements to their businesses. The fund will be managed actively, with a long-term investment horizon. At least two-thirds of the investments of this fund shall be made in the equities of companies anywhere in the world that are experiencing a significant change in ownership or business conditions, for example, through privatisation, demutualisation, deregulation or divestment from larger entities. The country and stock selection process will be research driven, taking into account both macro-economic developments and stock and country specific factors. Country, stock and sector selection are likely to be the most important drivers of the funds performance over time. The fund may enter into OTC derivatives limited to foreign exchange forward transactions and for efficient portfolio management purposes only.


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ZI JPMorgan Global Dynamic Fund

Code: CJUSD Currency: USD Underlying Fund: JPMorgan Funds Global Dynamic Fund Underlying Fund Manager: JPMorgan Asset Management (Europe) S. r.l.

Investment objective of the underlying fund:The fund aims to maximise long-term capital growth by investing in an aggressively managed portfolio of companies globally.

ZI M&G Global Basics Fund EUR

Code: FQEUR Currency: EUR Underlying Fund: M&G Investment Funds (1) M&G Global Basics Fund EUR Underlying Fund Manager: M&G Securities Limited

Investment objective of the underlying fund:The fund is a global equity fund which invests wholly or mainly in companies operating in basic industries (primary and secondary industries) and also in companies that service these industries. The fund may also invest in other global equities. The sole aim of the fund is long-term capital growth.

ZI M&G Global Basics Fund USD

Code: M3USD Currency: USD Underlying Fund: M&G Investment Funds (1) M&G Global Basics Fund USD Underlying Fund Manager: M&G Securities Limited

Investment objective of the underlying fund:The fund is a global equity fund which invests wholly or mainly in companies operating in basic industries (primary and secondary industries) and also in companies that service these industries. The fund may also invest in other global equities. The sole aim of the fund is long-term capital growth.

ZI M&G Global Leaders Fund EUR

Code: FREUR Currency: EUR Underlying Fund: M&G Investment Funds (1) M&G Global Leaders Fund EUR Underlying Fund Manager: M&G Securities Limited

Investment objective of the underlying fund:The aim of the fund is to maximise long-term total return (the combination of income and growth of capital). The fund invests in a wide range of global equities issued by companies that the fund manager considers, or have the potential to be, leading in their field in terms of improving shareholder value.

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ZI M&G Global Leaders Fund USD

Code: N3USD Currency: USD Underlying Fund: M&G Investment Funds (1) M&G Global Leaders Fund USD Underlying Fund Manager: M&G Securities Limited

Investment objective of the underlying fund:The fund is to maximize long term total return (the combination of income and growth of capital). The fund invests in a wide range of global equities issued by companies that the fund manager considers, or have the potential to be, leading in their field in terms of improving shareholder value.

ZI Threadneedle Global Select Fund

Code: GSUSD Currency: USD Underlying Fund: Threadneedle Investment Funds ICVC Global Select Fund Underlying Fund Manager: Threadneedle Investment Services Limited

Investment objective of the underlying fund:The fund aims to achieve above average capital growth. The fund invests primarily in equities issued by companies worldwide. The portfolio may be concentrated geographically or

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