New Star Asset Management is to market a structured product to be launched in conjunction with deriv...
New Star Asset Management is to market a structured product to be launched in conjunction with derivatives specialists, Credit Suisse First Boston.
Through the product tie-up, CSFB seeks to use the leverage the brand New Star has in the intermediary community to sell the structured product. It will offer returns linked to the performance of stocks in the Dow Jones Global Titans Index of 50 global large cap stocks.
It is the first mass-market structured product New Star has been involved with, however the group has offered access to capital guarantees in its hedge fund range within a structured wrapper. CSFB has launched a number of products in the past 12 months, marketing them through a limited number of tie-ups with large intermediary firms such as Chase de Vere. The products launched include a capital-protected Tessa-only Isa product offering returns based on the performance of the world's 50 largest companies and a product linked to the European Titans Index.
Full details of the New Star/CSFB product were unavailable at the time Investment Week went to press, and neither group would speak about the launch prior to the prospectus being placed with the London Stock Exchange on 10 June.
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