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Zurich is closing the Threadneedle Global Bond fund to new business

26 July 2018

Zurich is removing the Threadneedle Global Bond fund from the Sterling and Zurich panel propositions

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As part of our commitment to customers, we regularly review the performance and ongoing suitability of the funds available through our products. We call this ‘funds governance’ and if a fund continues to fall short of these standards, we’ll withdraw it from our fund range.

Our funds governance process has identified that the Threadneedle Global Bond fund has failed to meet its own performance targets over an extended period of time. As a result, we’ve decided to withdraw it from our range of panel funds.

Funds and Products affected by closure

This affects customers invested in these funds through the following products:

Zurich Investment Bond

Zurich Global Bond 2001 AL
Zurich Global Bond G4 AL

Zurich Pension

Zurich Global Bond ZP
Zurich Global Bond AP
Zurich Global Bond EP

Sterling Investment Bond

Sterling Global Bond
Sterling Global Bond 2

Sterling ISA and Sterling Investment Account

Threadneedle Global Bond Z Inc

How does this affect customers investing in these funds?

Existing customers can remain invested in the funds. If they pay into the funds by direct debit, they can continue to do so. However, we’ll no longer accept increases to direct debits, additional lump sum investments or switches into the funds.

The decision to withdraw these funds for new customers does not necessarily affect their ongoing suitability for existing investors.

How will we communicate this closure?

We have written to you with a list of their clients invested in these funds. We’ll also write to your clients but if any of them contact us, we’ll strongly advise them to contact you for more information.

Please note, if you have clients invested in this fund through a Zurich Portfolio then you need to know that we don’t review these funds in the same way as we do for our panel funds and they are still available to new customers.

Download example of customer letter