Change to investment policy for Zwitserleven Duration funds

Change to investment policy for Zwitserleven Duration funds

ImageReadtime 2 minutes

On 22 May this year, ACTIAM Cardano made a number of changes to the investment structure, investment policy and sustainability policy of the three Duration funds. These are the Zwitserleven Medium Duration Fonds, the Zwitserleven Long Duration Fonds and the Zwitserleven Ultra Long Duration Fonds.

The changes are the result of a refinement of policy relating to sustainability, and to more effectively take account of interest rate movements.

Change to investment structure

The Duration funds invest directly in bonds, interest rate derivatives, money market instruments and money market fund units. The investment structure of these funds will change, as from 22 May 2023, investments will be made indirectly through Cardano's underlying investment vehicles. These are the subfunds that form part of the Cardano Fixed Income Funds umbrella fund:

  • Cardano Medium Duration Fund
  • Cardano Long Duration Fund
  • Cardano Ultra Long Duration Fund

Change to investment policy

The investment policy has also changed for the underlying investment vehicles with respect to the management of interest rate risk, credit risk and liquidity risk. The changes ensure that the funds better reflect the interest rate sensitivity of pension liabilities.

Finally, the Duration funds have become even more sustainable. There is now a target percentage for sustainable investments: 20% of the bond portfolio is invested in green, social or sustainable bonds. With a minimum percentage of 10%.

More information

More information on these changes can be found in the notes. The changes are also set out in the addendum to the prospectus of the Zwitserleven Institutional Investment Funds.

This article is published on 19 May 2023