Man Investments has launched a funds of hedge funds with a capital guarantee, following its well-established pattern.
The product is called Man Global Strategies Diversified, and it aims to get annualised returns of 13%-15% for volatility of 7%-8% over the medium term. The 100% capital guarantee is provided by Lloyds TSB Bank.
The product also has a profit lock-in feature that, subject to trading performance, has the potential to elevate the level of the guarantees at maturity by locking in a portion of net new trading profits following periods of sustained profitability.
The product differs from earlier products by providing access to a wider range of managers and strategies. The greater diversification of managers and strategies in the portfolio reduces the volatility of the fund.
It will be available until the 3 October 2003. It will be offered in both euro and dollar classes. This is the latest in a long line of structured products that have turned Man into one of the largest hedge fund providers in the market. The last launch was unusual in that it was a fund of hedge funds run in conjunction with RMF.
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