Scottish Mutual is to launch a with-profits alternative, called a guaranteed pension investment, la...
Scottish Mutual is to launch a with-profits alternative, called a guaranteed pension investment, later this month linked to a Swiss fund of hedge funds manager.
The product is the first to be launched following a collaboration between the Bucephale Group, a Geneva-based investment manager offering fund of hedge funds, and Abbey National Treasury Services, the wholesale bank of the Abbey National Group to which Scottish Mutual also belongs.
The tie-up between Abbey National Treasury services and the Bucephale Group was announced back in February, but the life tie-up is the first time Abbey National will market a Bucephale product. Back in February, Abbey National said the guaranteed pension investment would be a structured product based on an underlying portfolio of hedge funds.
Bucephale will run the funds while Abbey National Treasury Services is understood to be the deposit taker.
Scottish Mutual is the latest life company to link to a fund of hedge funds provider. Canada Life has linked up with Man Group to provide the Man Glenwood fund of hedge funds while Axa has formed a link to Liberty Ermitage.
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