Zurich Global Green Bond Fund
For an investment targeting transparent, reliable returns with an added bonus for the planet, invest like Zurich, invest in the Zurich Global Green Bond Fund.
This is a marketing communication in respect of Zurich Global Green Bond Fund. Please refer to the Prospectus, Supplement and KIID/KID available at www.carnegroup.com/zurich before making any final investment decisions. Please pay particular attention to the “Risk Factors” detailed in the Prospectus and Supplement.
What is the investment objective of the fund?
As an investor, you naturally want competitive and reliable returns. What if you could generate those returns via green projects? Solar farms, say, that generate contributions to your savings pot alongside heat and light for a local community? Or water conservation projects that harvest a nest egg for your future alongside the rainwater? The Zurich Global Green Bond Fund is a new way to further your financial goals with investment in specific projects that help protect our planet.
Finance projects, not just companies
We hand-pick green bonds so your money goes directly to where it can have most impact. As an actively-managed fund, we control what’s included.
Competitive returns, added impact
Earn returns comparable to traditional bonds, with the added impact that comes from investments mitigating factors like rising temperatures and extreme weather.
Invest where the experts do
You’ll be investing in the same or similar projects as Zurich itself — and you’ll benefit from the specialist green bond expertise of asset manager Amundi.
Results at your fingertips
Regular reports keep you connected to what your investment is achieving, both in terms of financial returns and environmental impact.
There is no assurance that the Fund will achieve its sustainable investment objective, generate profits or avoid losses, or that the projects supported by the Fund will achieve their sustainability and/or environmental impact goals. The value of your investment and any income on it may go down as well as up, and may vary. For more information on the risks associated with the Fund, please see the section entitled ‘Risks Factors’ in the Prospectus of the ICAV, the Supplement of the Fund and the Key Investor Information Document.
What is a green bond fund?
The basics
A green bond fund is a collection of bonds specifically issued to finance environmentally-friendly projects like renewable energy, energy efficiency, clean transportation, and water conservation. Green bonds’ strong sustainability credentials, combined with their attractive income profile, have secured significant support from governments and institutions. All green bonds we invest in are aligned with the International Capital Market Association (ICMA) Green Bond Principles, independent guidelines which foster transparency, integrity, and consistency across the green bond market.
Why invest in green bonds?
Over the past decade, the green bond market has matured to the point that today they represent a large asset class with a wide variety of issuers for investors to choose from. Investors find green bonds attractive for the income they provide, their environmental impact, and their returns — which are comparable to traditional fixed-income products.
What’s different about the Zurich Global Green Bond Fund?
We’d like to keep an eye on where our money — and yours — is being invested. Traditional bond funds invest in companies without necessarily knowing where the money is invested. We prefer a more targeted approach, which is why we invest in green bonds tied to specific projects.
That same level of control applies to fund management. The green bond market is dynamic, so we actively manage the Fund to take advantage of new opportunities as they arise: when selecting these bonds, we carefully evaluate both the financial strength of the issuing company and the environmental impact of the projects they finance.
You could say it’s our status as one of the green bond pioneers1 that makes us take such a close interest in these fine details. Or you could say it’s our decade of experience in this market and the fact we ourselves invest in the same or similar bonds. Or perhaps it’s the influence of one of the world-leading green bond managers, Amundi.2
Either way, the end result is you can be confident in what you’re investing in, the returns being targeted, and the measurable impact the selected initiatives seek to have on the planet.
1 Source: Zurich. For further details please refer to Zurich’s Impact Investment Statement available at https://www.zurich.com/investment-management/responsible-investment/impact-investment.
2 Source: Amundi. As at March 2024, Amundi invested €52 billion in green bonds across its portfolios. Please refer to the Amundi Responsible Investment Policy dated May 2025 for further details of Amundi’s credentials, its history of ESG integration and green bond investing (pg.38) and see further Amundi Sustainable Finance Disclosure Statement available at https://about.amundi.com/legal-documentation.
Example project: wind farm
An example of a project financed by green bonds is Spanish utility Iberdrola’s offshore wind project in Saint-Brieuc, France.3 This € 2.4 billion project was inaugurated in spring 2024 and produces 496 megawatts, providing clean energy for 835,000 people and strengthening regional energy autonomy. The project, backed by multiple green bonds, also created over 1,700 jobs and supported local manufacturing. Advanced environmental studies guided sustainable construction and operation methods, ensuring minimal impact on marine ecosystems.
Zurich Insurance Group has, as of December 2024, invested more than € 100 million in green bonds issued by Iberdrola.4
3 Source: https://www.iberdrola.com/about-us/what-we-do/offshore-wind-energy/saint-brieuc-offshore-wind-farm.
4 Source: Zurich.
6 reasons to choose the Zurich Global Green Bond Fund
Green investment heritage
We really know our stuff. We were a pioneer institutional green bond investor5, back in 2013; At the end of 2024 we were holding over €7.2 billion in green, social, and sustainability bonds on Zurich’s own balance sheet.
Transparent investments
Investments are directly tied to specific green projects, with measurable outcomes like avoided CO2-equivalent emissions or an increase in renewable energy capacity.
Solid, reliable returns
The Fund is designed to target consistent returns without excessive risk.
World-leading experts
Our collaboration with leading green bond manager Amundi6 allows investors to benefit from global reach and specialist expertise in this market.
Active fund management
We assess all bonds with an eye on both financial returns and environmental impact.
Invest like Zurich - leading by example
We put our money where our mouth is — You are investing in the same or similar projects as we do.
There is no assurance that the Fund will achieve its investment objective, generate profits or avoid losses. The value of your investment and any income on it may go down as well as up, and may vary. For more information on the risks associated with the Fund, please see the section entitled ‘Risks Factors’ in the Prospectus of the ICAV and Supplement of the Fund and the Key Investor Information Document.
5 Source: see Zurich supra, note 1.
6 Source: see Amundi supra, note 2.
Combining the expertise of Zurich and Amundi
The Zurich Global Green Bond Fund is managed by Amundi, a leading green bond manager and innovator in sustainable investing, in collaboration with Zurich. Amundi brings over a decade of experience in green bonds, complementing our own heritage and expertise in this market. Amundi makes sure our Fund takes advantage of the latest market insights and follows rigorous investment evaluation processes.
Managing Risks
As with all investment products, there is risk involved. Market changes — relating to companies, economies, politics or regulations, for instance — can affect financial performance. Fixed income instruments can be particularly sensitive to changes in the interest rate environment.
Investors should also be aware that despite the intentions of the Fund to support projects with positive environmental impact, there is always the possibility that these projects might underachieve on their sustainability and environmental goals. If projects fall short of expectations it could impact how valuable or credible the green bond is seen to be.
For more information on the risks associated with the Fund, please see the section entitled ‘Risks Factors’ in the Prospectus of the ICAV and Supplement of the Fund and the Key Investor Information Document.
The best way to mitigate against unavoidable risk is to choose a team which has specialist expertise and a proven track record. Zurich made an early commitment to green bonds in 2013 and has invested over €7.2 billion in green, social, and sustainability bonds as per year end 20247. Amundi is a leading European asset manager, a green bond pioneer, and is committed to sustainable finance.
7 Source: see Zurich supra, note 1.
Zurich Global Green Bond Fund (the “Fund”) is a sub-fund of Zurich Invest ICAV (the “ICAV”). The ICAV is an umbrella fund with segregated liability between sub-funds constituted as an Irish Collective Asset-management Vehicle with variable capital and is authorized by the Central Bank of Ireland as an Undertaking for Collective Investment in Transferable Securities.
This is a marketing communication. Investment decisions should only be made after a thorough reading of the current versions of the prospectus of the ICAV, the supplement of the Fund and the latest key information document (‘KID/KIID’) available at www.carnegroup.com/zurich.
The Fund has sustainable investment as its objective within the meaning of Article 9 of Regulation (EU) 2019/2088 (SFDR) and commits to having a minimum proportion of 90% of sustainable investments. Investors should refer to the pre-contractual disclosure annex of the supplement of the Fund and the Article 10 SFDR website disclosure available at www.carnegroup.com/zurich for further details. Past performance is no guarantee of future results. There is no assurance that the Fund will achieve its investment objective, generate profits or avoid losses. The value of your investment and any income on it may go down as well as up, and may vary. Income may fluctuate due to variations in the value of the coupon rate of the security underlying your investment. Issuers of fixed income securities underlying your investment may not always be able to pay back the value of the coupon or the notional value of the fixed income security at maturity. Income may also be affected by taxation arrangements. Changes in interest rates may have an adverse effect on the value, price or income of an investment. An investment in the Fund should only be made by persons who can sustain a loss on their investment. Any such investment should not constitute a substantial portion of an investment portfolio and may not be appropriate for all investors.
Investment in shares of the Fund is subject to risks. Investors should read the prospectus of the ICAV, the supplement of the Fund, and the KID/KIID, paying particular attention to the sections related to risk factors and risks, before making any investment decisions.
Your investment may also be subject to currency, interest rate, as well as market fluctuations. Consequently, an investor may not get back a sum equal to the amount originally invested.
In accordance with the prospectus of the ICAV and the supplement of the Fund, the Fund may utilize Over-the-Counter and/or Exchange-Traded derivative instruments for hedging or investment purposes. Transactions in derivative instruments involve a risk of loss or depreciation of capital due to adverse changes in security prices, exchange rates or interest rates or, in the case of Over-the-Counter instruments, default of the counterparty. An investment in a fund that may make such investments may not be suitable for all types of investors. The Fund may be leveraged arising from its use of derivatives, which would amplify the losses and/or gains of the Fund arising from such use of derivatives.
This homepage is not intended to contain and should not be regarded as containing advice relating to legal, taxation, investment or any other matters. This homepage may not be adequate for the needs, profile and experience of each individual investor. Each prospective investor should consult with their own professional advisors as to any legal, economic, or tax implications and related aspects which may be relevant to the purchase, holding or disposal of shares in the Fund and as to suitability of an investment
for such investor.
For details in respect of key investor rights, please refer to the prospectus of the ICAV and the supplement of the Fund which can be obtained free of charge by all investors or potential investors on this website www.carnegroup.com/zurich.
Carne Global Fund Managers (Ireland) Limited, as manager of the ICAV, may terminate the arrangements made for the marketing of the Fund.
Further, the impact of costs of investing into the Fund are described in the offering documentation and the KID/KIID, available on the following website www.carnegroup.com/zurich.
For German investors: The role of Information agent in Germany in accordance with section 309 para. 2 of the German Investment Code is undertaken by Zürich (Deutschland), Solmsstraße 27-37, 60486 Frankfurt am Main, Deutschland.
For Swiss investors: The representative in Switzerland is FIRST INDEPENDENT FUND SERVICES AG, Zürich. The paying agent in Switzerland is NPB Neue Privat Bank AG, Zürich.
For Austrian investors: The Zurich Invest ICAV has appointed Erste Bank der oesterreichischen Sparkassen AG as its domestic paying and information agent under section 141(1) InvFG, Official Gazette no 2011/77. The Zurich Invest ICAV has also appointed Erste Bank der oesterreichischen Sparkassen AG as its tax agent. The details of the paying agent and tax agent are as follows: Erste Bank der oesterreichischen Sparkassen AG - Am Belvedere 1, 1100 Wien, Austria.
The Fund is actively managed by reference to the Bloomberg MSCI Global Green Bond Index (the “Reference Benchmark”). The Fund will typically invest in green bonds included in the Reference Benchmark however the Fund has the flexibility to invest up to 20% of its Net Asset Value in debt securities which are not included in the Reference Benchmark. Investors should refer to the latest versions of the prospectus of the ICAV and the supplement of the Fund for further details of the Fund’s investment policies and investment strategy.
“Bloomberg®” is a trademark and service mark of Bloomberg Finance L.P. MSCI is a trademark and service mark of MSCI Inc. (collectively with its affiliates, “MSCI”), used under license. Bloomberg Finance L.P. and its affiliates (collectively, “Bloomberg”), including Bloomberg Index Services Limited, the index administrator (“BISL”), or Bloomberg’s licensors, including MSCI, own all proprietary rights in the Bloomberg MSCI Environmental, Social & Governance (ESG) fixed income indices (the “ESG Indices”). Neither Bloomberg nor MSCI is affiliated with the distributor hereof (the “Licensee”), and
neither approves, endorses, reviews or recommends financial products listed herein (the “Products”). Neither Bloomberg nor MSCI guarantees the timeliness, accurateness or completeness of any data or information relating to ESG Indices, and neither shall be liable in any way to the Licensee, investors in the Products or other third parties with respect to the use or accuracy of the ESG Indices or any data included therein.”
