Multimanager protected fund unveiled by Zurich

Billed as a protected profits fund, the Zurich fund invests a maximum of 70% of the fund in equities but also guarantees the unit price "will never fall below 80% of its highest value". Any assets not invested in global equities will be held in cash, up to a maximum of 100% cash, and investors have the option of cashing-in or switching in and out of the fund without encountering an MVR-style charge, as would be seen on a traditional with-profits fund. Investment will be placed in four funds – the Cazenove UK Growth and Income, the Mellon Newton Higher Income, the DWS Investments’ Amer...