Man Investments has launched the next in its range of funds of funds, with an offer period running u...
Man Investments has launched the next in its range of funds of funds, with an offer period running until 13 June.
Investors can buy into MGS Diversified Opportunities via the capital guaranteed bonds or into the share classes carrying dividends.
Man noted clients had asked for products with dividend payments, shorter maturity dates and a choice over whether the product came with a capital guarantee or not.
The new fund has all of these options. It has 4% fixed dividends for the first four years and discretionary dividends after this period for those who want them, offers both share classes with and without capital protection, and both options offer access to Man Global Strategies Diversified.
The bond classes of MGS Diversified Opportunities come in either dollar, euro or Swiss franc share classes and each target annualised returns of about 11%-14% (dollar), 10%-13% (euro class) and 6%-9% (Swiss franc) over the medium term on volatility in each case of 6%-8% (dollar and euro classes) and 4%-6% (Swiss franc).
Citibank is underwriting the capital guarantee for the protected classes.
For the share classes of MGS Diversified Opportunities, investors can buy in either dollar or euros, for annualised returns of 12%-15% (dollar class) and 11%-14% (euro-denominated class) over the medium term, on volatility expected to be around 6%-8%.
It is on these classes that investors receive the 4% dividend for the first four years.
The bond classes all have their maturity in November 2017. Early redeemers will find they incur a 4% penalty for pulling out before 31 July 2007, or 3% between 1 April 2007 and 31 March 2009, or 1% for redemptions between 1 August 2009 and 31 July 2011.
There is monthly dealing in the bonds.
An ambitious objective
'Something completely new'
'Illusion of control'
Reasons to be cheerful
Total investment reaches £9m