Moderate Unit-Linked Investment in Portugal
For investors who want their capital to work with balanced exposure to financial markets, a Moderate Unit-Linked strategy can provide a structured path focused on diversification, growth potential and disciplined risk control.
Moderate Unit-Linked Products - Portugal
At C1 Broker, we act as the advisory partner throughout the process, assessing the client’s objectives, risk tolerance, investment horizon and liquidity needs before identifying whether this type of balanced structure is suitable. Through personalised guidance, C1 helps clients understand the level of market fluctuation involved, the role of diversified allocation, the potential advantages of a medium- to long-term strategy and the risks that must be accepted before any investment decision is made.
Moderate Investing: Balanced Growth With Controlled Risk
Moderate investing is for clients who want to move beyond low-yield bank deposits, but who are not looking for a fully aggressive market strategy. It focuses on diversification, measured growth potential and disciplined exposure to volatility, rather than maximum equity risk.
For many investors, this profile can work as a balanced investment solution for capital that should not remain idle in traditional bank accounts, but also should not be exposed entirely to high-risk assets. The objective is to keep the investment professionally managed, globally diversified and aligned with a medium/long-term financial plan.
A moderate Unit-Linked strategy may be appropriate for investors who accept some market fluctuation in exchange for higher growth potential than conservative profiles, while still preferring a more controlled investment journey than aggressive strategies.
Important: Moderate does not mean risk-free. Unit-Linked investments are linked to financial markets, may fluctuate in value and do not provide a fixed return or deposit guarantee.
Moderate Unit-Linked Product Options
Allianz Moderate Unit-Linked Solutions
Allianz Investimento offers a moderate Unit-Linked route for clients who want their capital professionally managed with a more balanced exposure to financial markets. Within the Allianz range, the Moderate approach corresponds to the Balanced Profile, which is built around diversified multi-asset strategies, including ALLIANZ DYNAMIC MULTI SRI 50 “CT2” EUR and ALLIANZ DYNAMIC MULTI SRI 30 “CT2” EUR, giving investors access to portfolios with 50% and 30% equity exposure respectively.
This approach may be suitable for investors who value long-term growth potential but still want disciplined risk control, diversification and a less aggressive investment journey than full-equity strategies. Allianz positions the product as a medium/long-term solution adapted to the client’s risk profile, supported by global asset managers such as Allianz Global Investors, PIMCO and JP Morgan, while making clear that there is no general capital guarantee and that market fluctuations may affect the investment value.
Zurich Moderate Unit-Linked Solution
Zurich also offers a moderate Unit-Linked structure through Zurich Unit Linked Investimento — Perfil Moderado. This is an individual life insurance product linked to investment funds and classified as a PRIIP, designed for medium and long-term savings while allowing clients to diversify their investments according to their risk tolerance. Zurich describes the Moderate Profile as combining the stability of bonds with the growth potential of equities, offering a balanced solution for clients seeking security without giving up opportunities for appreciation.
The Zurich Moderate allocation framework allows equity exposure from 0% to 60%, bond exposure from 0% to 50%, and additional diversification through commodities, alternatives and liquidity, each with exposure of up to 20%. This positions the strategy above a purely conservative allocation but below the Dynamic profile, reinforcing its role as a balanced market-linked solution for clients who accept volatility, credit risk and possible capital loss in exchange for medium/long-term return potential.
Moderate Unit-Linked Options: Allianz and Zurich
For moderate investors, the objective is not to avoid markets completely, but to participate in them with a more balanced structure. A moderate Unit-Linked strategy can combine growth potential, professional fund management and diversified allocation, while keeping risk exposure below aggressive investment profiles. Through C1 Broker, clients can compare moderate options from Allianz and Zurich instead of being limited to one provider or one product architecture.
Allianz Investimento offers a moderate Unit-Linked route through its Balanced Profile, designed for clients who accept market fluctuations in exchange for stronger medium/long-term growth potential than conservative strategies.
This profile is built around diversified multi-asset funds, including ALLIANZ DYNAMIC MULTI SRI 50 “CT2” EURand ALLIANZ DYNAMIC MULTI SRI 30 “CT2” EUR, giving investors access to professional global allocation with controlled equity exposure rather than full aggressive positioning.
Zurich offers moderate investment solutions for clients seeking a balance between stability and growth potential. Through Zurich Unit Linked Investimento, the Moderate Profile combines bond exposure with equity participation, aiming to support medium/long-term savings according to the client’s risk tolerance.
Zurich also offers Zurich Investimento Futuro, a financial life insurance solution focused on medium and long-term savings, giving clients another route to structure capital with professional guidance and insurance-based planning.
* Unit-Linked products are market-linked: capital is not guaranteed, values may rise or fall, and each profile reflects a different level of risk, volatility and growth potential.
Moderate Unit-Linked
Allianz Investimento is a medium/long-term Unit-Linked solution that adapts the investment allocation to the client’s risk profile. For moderate investors, the Allianz structure corresponds to the Balanced Profile, designed for clients who want stronger growth potential than a conservative allocation, but who still want diversification and disciplined risk control.
The Allianz Balanced / Moderate Profile is suitable for investors who accept that financial markets fluctuate and who can tolerate occasional losses in exchange for higher medium-term growth potential. Instead of concentrating the investment only in shares or only in bonds, this profile is built around global multi-asset funds, allowing the portfolio to combine different asset classes and maintain a controlled level of equity exposure.
Allianz Moderate Fund Options
| Fund | ISIN | Type | Category | Equity Exposure |
|---|---|---|---|---|
| ALLIANZ DYNAMIC MULTI SRI 30 “CT2” EUR | LU2829845630 | Open-ended | Global Multi-Asset Fund | 30% |
| ALLIANZ DYNAMIC MULTI SRI 50 “CT2” EUR | LU1462192417 | Open-ended | Global Multi-Asset Fund | 50% |
How the Allianz Moderate Funds Work
The ALLIANZ DYNAMIC MULTI SRI 30 “CT2” EUR fund sits at the lower end of the Balanced / Moderate range, with 30% equity exposure. It may be appropriate for clients who want more growth potential than a conservative strategy, but who are not yet comfortable with a portfolio where half or more of the investment is exposed to equities.
The ALLIANZ DYNAMIC MULTI SRI 50 “CT2” EUR fund is the more growth-oriented option within the Balanced / Moderate profile, with 50% equity exposure. It is still a global multi-asset fund, but the higher equity component means the investor should expect more fluctuation than with the 30% version.
This profile may be suitable for clients who want a balance between risk control and growth potential, accept moderate market fluctuations, prefer diversified multi-asset funds and have a medium- to long-term investment horizon. In case of death of the insured person, Allianz Investimento also includes an additional protection mechanism: beneficiaries receive the market value of the fund units and, where applicable under the contract rules, an amount linked to depreciation against the initial investment value.
Read more in our Moderate Investor Profile post.
Moderate Unit-Linked
Zurich offers a moderate Unit-Linked route through Zurich Unit Linked Investimento — Fundo Investimento Moderado. This is an individual life insurance contract linked to an investment fund, classified as a PRIIP and structured through units of participation in an autonomous fund. The objective is medium and long-term savings, allowing the client to diversify according to their tolerance to risk.
The Fundo Investimento Moderado is designed for investors with moderate risk aversion and a risk profile equal to or above 3. Zurich describes the Moderate Profile as combining the stability of bonds with the growth potential of equities, offering a balanced solution for clients who want security without giving up opportunities for appreciation.
Zurich Moderate Fund Framework
| Product | Fund / Profile | Regulation | Main Allocation Framework | Risk Level |
|---|---|---|---|---|
| Zurich Unit Linked Investimento | Fundo Investimento Moderado | PRIIP insurance-based investment product | Up to 60% equities, up to 50% bonds, plus monetary, real estate, alternatives and liquidity exposure | 3 / 7 |
How the Zurich Moderate Fund Works
The Zurich Fundo Investimento Moderado allows equity exposure up to 60%, which gives the strategy more growth potential than a conservative fund, but still below a fully dynamic or aggressive profile. The fund may also invest up to 50% in bond funds and monetary funds, with additional diversification through real estate funds, alternative funds and demand deposits.
Zurich’s allocation is managed dynamically according to market and macroeconomic conditions. This means the portfolio can adjust its exposure across asset classes rather than remaining permanently fixed in one allocation. However, this does not remove investment risk. The Zurich Moderate Fund is classified as risk level 3 out of 7, and the client may lose part or all of the invested capital in adverse scenarios.
Zurich also presents Zurich Investimento Futuro as a financial life insurance solution focused on medium and long-term savings. For this page, the clearest moderate Unit-Linked product to highlight is Zurich Unit Linked Investimento — Fundo Investimento Moderado, while Zurich Investimento Futuro can be mentioned as an additional Zurich savings solution to be reviewed during the advisory process.
Read more in our Moderate Investor Profile post.
“With a Unit-Linked investment plan, your capital is not left idle, it is allocated to professionally managed funds according to your risk profile, investment horizon and long-term objectives. To understand which profile may suit you best, contact our team at C1 Broker.”
Maximilian Wichels, Head of Sales Portugal
Allianz, Zurich + C1 Broker: Moderate Unit-Linked Guidance
Moderate Unit-Linked investments require more than simply choosing an insurer or selecting a fund. The first and most important step is understanding whether this balanced structure is truly aligned with the client’s objectives, investment time horizon, liquidity needs and tolerance for market fluctuations.
For clients who want more growth potential than a conservative allocation, but do not want a fully aggressive equity strategy, moderate Unit-Linked solutions can offer a structured balance between diversification, professional fund management and controlled market participation. Through Allianz Investimento and Zurich Unit Linked Investimento, clients can access solutions designed for investors who accept measured risk in exchange for medium/long-term growth potential.
Both structures can support a more balanced way to access market-linked investment opportunities, while keeping the investment approach below aggressive risk levels.
Moderate Structures from Allianz and Zurich
Moderate Unit-Linked investments require more than simply choosing an insurer or selecting a fund. The first and most important step is understanding whether this balanced structure is truly aligned with the client’s objectives, investment time horizon, liquidity needs and tolerance for market fluctuations.
For clients who want more growth potential than a conservative allocation, but do not want a fully aggressive equity strategy, moderate Unit-Linked solutions can offer a structured balance between diversification, professional fund management and controlled market participation. Through Allianz Investimento and Zurich Unit Linked Investimento, clients can access solutions designed for investors who accept measured risk in exchange for medium/long-term growth potential.
Both structures can support a more balanced way to access market-linked investment opportunities, while keeping the investment approach below aggressive risk levels. Through C1 Broker, the objective is to compare Allianz and Zurich options clearly, explain the risks and product mechanics, and ensure that the final recommendation matches the client’s suitability profile.
Yes, I Want to Structure My Unit-Linked Investment Plan
Your long-term capital deserves a clear strategy, not guesswork.
With a Unit-Linked investment plan, your money can be allocated to professionally managed funds according to your risk profile, time horizon and growth objectives.
FAQs
Frequently Asked Questions
A Unit-Linked product is a life insurance contract connected to investment funds. The premium is converted into investment units, and the value of the contract changes according to the performance of the selected funds. It is not a bank deposit or a fixed-interest savings account.
To understand whether a Unit-Linked structure fits your objectives, contact C1 Broker’s investment team here.
No. Unit-Linked products are market-linked, which means the value may rise or fall. The financial market risk, including volatility, credit risk and liquidity risk, is borne by the policyholder.
To review whether this level of risk is appropriate for your situation, contact C1 Broker’s investment team here.
They may be suitable for clients looking for a medium- to long-term investment structure, with access to professionally managed funds and a risk profile adapted to their objectives. They are not suitable for clients who require guaranteed capital or short-term certainty.
To better understand which investor profile may fit your situation, complete C1 Broker’s Investment Profile Test.
Allianz Investimento is organised into three profiles: Conservative, Balanced, and Aggressive. The Conservative profile focuses on reducing large fluctuations, the Balanced profile accepts moderate volatility for growth potential, and the Aggressive profile prioritises long-term return with higher market fluctuation.
To understand your own investor profile before selecting a Unit-Linked fund, complete C1 Broker’s Investment Profile Test.
A Moderate Unit-Linked investment is an insurance-based investment product linked to financial market funds. It is designed for clients who want more growth potential than a conservative strategy, but who do not want the higher volatility normally associated with aggressive equity-heavy portfolios.
The investment value can rise or fall depending on the performance of the underlying funds, so it should be seen as a medium/long-term strategy rather than a short-term capital parking solution.
Read more in our Moderate Investor Profile post.
Possibly, but only if it matches your risk tolerance, investment horizon and ability to accept market losses. The Aggressive profile may offer higher long-term growth potential, but it also involves higher volatility and a greater risk of temporary or permanent loss.
To understand whether this profile fits your investment behaviour, read C1 Broker’s guide to the Aggressive Investor Profile in Portugal here.
Before subscribing, clients should review the official Allianz documentation, including the Pre-Contractual Information, Key Information Document, General Conditions, risk information, fees, sustainability disclosures and fund documentation. This helps ensure the decision is made with full transparency.
To understand how Unit-Linked products fit within the wider savings and investment options available in Portugal, visit C1 Broker’s Savings & Investments page.
They can be tax-efficient when held over the medium to long term. Under the Portuguese decreasing tax scale for Unit-Linked and capitalization insurance contracts, capital gains may be taxed at 28%, 22.4% after 5 to 8 years, or 11.2% after more than 8 years, provided the legal contribution timing conditions are met.
To compare Unit-Linked tax treatment with other savings and investment structures in Portugal, visit C1 Broker’s Savings & Investments page.
In the event of death, the designated beneficiaries may receive the market value of the fund units plus an additional amount equal to any depreciation, if depreciation exists and according to the contractual rules defined by Allianz.
To better understand how Unit-Linked products can support beneficiary planning, speak with C1 Broker’s investment team here.
C1 Broker helps clients understand the product structure, compare the available profiles, assess the risks, review the documentation and select a strategy aligned with their objectives. The goal is not to push one profile, but to guide the client toward a suitable Unit-Linked structure based on risk tolerance, time horizon and financial goals.
To begin with a broader view of savings and investment options in Portugal, visit C1 Broker’s Savings & Investments page.
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Allianz and Zurich Unit-Linked Documents
At C1 Broker, we believe every investment decision should be made with full clarity. Below you can access the essential documentation for the Conservative Unit-Linked solutions available through Allianz and Zurich, including product information, pre-contractual documents, risk details, costs and fund-specific information.
Please review these documents carefully before subscribing. Unit-Linked products are linked to financial markets, may fluctuate in value and should always be assessed according to your risk profile, investment horizon, liquidity needs and financial objectives.
Unit-Linked Documents
- Pre-Contractual Information (Informação Prévia à Contratação) Allianz
- Key Information Document (Documento de Informação Fundamental) Allianz
- Investment Glossary (Glossário Investimento) Allianz
- Transparency in the Integration of Sustainability Risks (Transparência na Integração dos Riscos de Sustentabilidade) Allianz
- Pre-Contractual Information (Informação Prévia à Contratação) Zurich
- Key Information Document - Moderate Fund (Documento de Informação Fundamental - Fundo Moderado) Zurich
- General Conditions (Condições Gerais) Zurich
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The information provided on this page is for general informational, educational and commercial purposes only and is intended to present, in broad terms, insurance-based savings and investment solutions, including Retirement Savings Plans (PPRs), Unit Linked life insurance products, capitalisation contracts and other medium- or long-term savings structures distributed through insurance channels. This information does not constitute financial, investment, tax or legal advice, nor does it constitute a personalised recommendation to subscribe, maintain, modify, transfer, switch, redeem or surrender any product.
PPRs and Unit Linked products may involve risks, including market risk, liquidity risk, credit risk, currency risk, interest rate risk, inflation risk, counterparty risk, operational risk, regulatory risk and the risk of partial or total loss of the capital invested. Unless an express guarantee is provided in the contractual terms and conditions of the product, neither the invested capital nor the return is guaranteed. The value of the investment may rise or fall, and past performance is not a reliable indicator of future results.
Insurance-based savings and investment products are not equivalent to bank deposits and should not be understood as risk-free savings accounts. Depending on the product structure, the value payable to the policyholder, insured person or beneficiary may depend, directly or indirectly, on the performance of underlying funds, financial markets, reference assets, units of participation or the investment policy defined by the insurance undertaking or product manufacturer. Any capital protection, death benefit, beneficiary clause, guaranteed rate, minimum return, depreciation compensation or other protection mechanism applies only where expressly provided in the official contractual documentation and subject to the limits, exclusions, valuation rules and conditions stated therein.
Where the product is linked to investment funds or other market-exposed assets, the financial risk is generally borne, in whole or in part, by the policyholder or investor. Redemptions, partial withdrawals, transfers, switches, cancellations or early surrenders may be subject to contractual restrictions, valuation dates, settlement periods, minimum holding periods, commissions, penalties, market value adjustments, minimum remaining balances or temporary liquidity limitations. In periods of market stress, exceptional volatility, suspension of underlying funds or operational disruption, redemption or switching may be delayed, restricted or processed at a value different from that expected by the client.
Any reference to tax benefits, reduced taxation, PPR deductions, favourable redemption regimes or long-term fiscal advantages is provided only as general information based on the legislation understood to be applicable at the date of publication. Tax treatment may depend on the client’s tax residence, age, personal circumstances, annual IRS position, product type, contribution history, holding period, redemption reason and compliance with the legal conditions in force. Tax law, administrative interpretation and reporting obligations may change over time, and any tax advantage may be reduced, suspended, withdrawn or lost where the applicable legal or contractual conditions are not met.
Before subscribing to any product, the client must carefully read all applicable pre-contractual and contractual documentation, including, where applicable, the Key Information Document (KID/DIF), the Information Note, the General, Special and/or Particular Conditions, information on risks, costs and charges, the investment policy, recommended holding period, surrender/redemption conditions and applicable tax regime. Any subscription decision must be made consciously and on an informed basis, taking into account the client’s investment objectives, knowledge and experience, financial situation, ability to bear losses, investment horizon and risk tolerance.
The subscription of insurance-based investment products is subject to the legally required suitability or appropriateness assessment, acceptance by the insurance undertaking and the specific terms and conditions of each product. The tax treatment of PPRs and other savings or investment products depends on the personal circumstances of the client and on the tax legislation in force, which may change over time. Early redemptions, transfers or contractual changes may result in penalties, charges, loss of tax benefits or other tax consequences.
C1 Broker® is a commercial brand of Wiseg Mediación de Seguros, S.L., an insurance brokerage authorised to distribute Life and Non-Life insurance, DGSFP Code J-3790, authorised to operate in Portugal through branch registration no. ASFFP 923047667. C1 Broker may receive remuneration from insurance undertakings for the distribution of insurance products, namely through commission included in the premium or product value, without prejudice to its duty to act honestly, fairly, professionally and in the best interests of the client. The client may request additional information on the nature and amount of the applicable remuneration.
For further information, personalised clarification or access to the legal documentation of any product, please contact C1 Broker before making any subscription decision.