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BlackRock has changed the objective and investment policy of the BlackRock Gold & General fund.

29 August 2018

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BlackRock recently completed a review of its Unit Trusts and has changed the derivative usage language in the investment objective and policy section of each Unit Trust so that in addition to the existing right to use derivatives for efficient portfolio management (“EPM”), the fund managers will have the ability to use derivatives for investment purposes.

This change affects all the Zurich and Sterling BlackRock Gold & General funds so, as a result, the fund objective for the funds listed below will change to:

BlackRock Gold and General Fund seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. The Fund may also invest in other transferable securities and units in collective investment schemes. Derivatives may also be used for investment purposes and for the purposes of efficient portfolio management.

All funds carry some risk and you should consider these risks before making an investment decision. The value of investments and any income from them can fall as well as rise and will be reduced in real terms by the effects of inflation. The main factors which may increase the risk of this fund include the amount held in overseas assets, any concentration in specific areas or sectors, the amount invested in property or property shares, the use of derivatives and other instruments with the aim of generating outperformance.

This change took effect from 6 April 2018.

Funds and Products affected by the changes

This affects customers invested in the fund through the following products:

Zurich Investment Bond

Zurich BlackRock Gold and General AL
Zurich BlackRock Gold & General G4 AL

Zurich Pension

Zurich BlackRock Gold & General ZP
Zurich BlackRock Gold and General AP
Zurich BlackRock Gold & General 1% AP
Zurich BlackRock Gold & General Accumulation AP
Zurich BlackRock Gold & General Capital AP

Sterling Investment Bond

Sterling BlackRock Gold & General
Sterling BlackRock Gold & General 2

Sterling ISA and Sterling Investment Account

BlackRock Gold & General A Acc