Products
A comprehensive list of the product launches covered in the magazine this month
Anglo Irish Bank
Product: The Privilege Base Rate 30 Account
Description: An account that has an interest rate guaranteed to be at least the UK base rate. It also offers withdrawal of funds at 30 days' notice and 10 free withdrawals each year, subject to notice period.
Minimum: £5,000
Page: 14
Britannia International
Product: Base Rate Saver
Description: The account, which was first launched nearly two years ago, tracks the base rate and is being re-launched with a renewed rate guarantee as well as an additional interest enhancement for larger deposits.
Minimum: £10,000
Page: 14
Zurich Bank International
Product: The Guaranteed Account
Description: A guaranteed fixed term bank account for non-UK residents where the accounts interest is linked to the FTSE 100. It is a fixed term of up to five a half years.
Minimum: £2,500
Page: 14
Alliance & Leicester International
Product: One Year Fixed Rate Bond
Description: A one-year fixed rate bond with an interest rate of 4.75%. Two interest options are available to customers - either to have the interest paid in full on the bond's maturity date, or on a monthly basis by either crediting the bond account or by choosing one of the following options. It will mature on 31 May 2005.
Minimum: £5,000
Page: 6
Royal Skandia
Product: Self Select Range
Description: The M&G Property Fund and the New Star Property Unit Trust have both been added to Royal Skandia's Self Select Range.
Page: 13
BNP Paribas Asset Management
Product: The Parvest Euro Inflation Linked Bond fund
Description: An inflation-linked bond fund designed for investors who are seeking long-term protection from inflation risk. It invests mainly in inflation index linked bonds denominated in euros.
Page: 5
J O Hambro Capital Management
Product: The JOHCM Japan Fund
Description: JO Hambro's first Japan fund to be managed by Scott McGlashan.
Domicile: Dublin
Minimum: £1,000 also available in euros and yen
Charges: Initial charge is 5%, annual management charge is 1.25%, performance fee is 15% of fund outperformance of benchmark +1%. Intermediaries commission is 3% initial and 0.5% renewal.
Page: 3
HSBC Bank International
Products: China Bonus Fund and the Selected World Growth Fund
Description: The fund is benchmarked to the FTSE/Xinhua China 25 Index and investor receive their money back plus 8% for dollar option, 10.8% for sterling, and 7.3% for euro. The Selected World Growth Fund is linked to the S&P 500 Index, the FTSE 100 Index and the Nikkei 225 Index.
Minimum: £5,000, $5,000, or e5,000
Page: 40
Magnum Fund Management
Product: The Magnum Optimized Portfolio Fund
Description: Magnum has teamed up with Ibbotson Associates Advisors and GP Asset Management to launch a fund of hedge funds.
Page: 40
Scottish Equitable Int
Product: Reserved Interest Trust
Description: Just been re-launched following the Finance Bill. The trust is a discounted gift scheme that is generally used in conjunction with an offshore bond such as Scottish Equitable International's Dublin Investment Portfolio.
Page: 13
Dickson Capital Management
Product: European Long/Short Fund
Description: Drew Dickson is lead manager. He looks for fundamentally driven stock ideas to build a fairly concentrated portfolio of between 25-40 positions with a market exposure between plus and minus 25% beta adjusted to the market.
Page: 11
Volteq Capital
Product: GED Arbitrage Fund
Description: Aims to exploit pricing inefficiencies created by the relationship between listed and over-the-counter option markets, special product markets, convertible and warrant markets and credit markets.
Page: 11
Elcot Capital Management
Product: Fund of hedge funds
Description: Former Framlington CIO Neil Birrell and chief executive Mike Vogel have launched a fund of hedge funds focused on emerging managers running relative-value, event-driven, equity long/short and global macro portfolios.
Page: 11
Rab Capital Management
Product: A spate of hedge fund launches this month
Description: Arild Eide will manage a long/short US equities fund. Nick Reid and Robin Cosgrove will run a long/short Japanese equities fund. Gavin Wilson will run an energy fund.
Page: 8
PolicyPlus
Product: Added a dollar share class to its Endowment Growth Fund
Description: EGF invests in traditional with-profits endowment policies with the object of providing medium to long-term capital growth, combined with low risk and volatility. It does not invest in unitised with-profits, so investors are protected against MVAs.
Page: 8
Permal
Product: Natural Resources Fund of Hedge Funds
Description: The product invests in 15 underlying hedge funds, with its heaviest weightings by far in the more established managers. Newer managers receive little investment until they have produced a track record.
Page: 10
Julius Bär
Product: Julius Bär Global Rates Hedge Fund
Description: A directional fixed income and currency hedge fund managed by Andrew Snowball and Adrian Owens, who aim to return 13%-17% above Libor. Style used is top down.
Page: 10
Aberdeen Asset Managers
Product: Asian Smaller Companies fund
Description: It will invest in companies with a market capitalisation of up to $1bn, compared with $600m for the investment trust, and will administer up to 60 stocks as opposed to 45-50.
Page: 6
Forsyth Partners
Products: Profit Protector Note and Income Generator Note
Description: Both 10-year capital protected products. The Profit Protector Note has a 130% allocation to alternative strategies. The investor gets 50% of the performance of the underlying funds. The Income Generator Note has an 100% allocation rate and the investor gets a minimum return of 2% a year for the first five years of the contract.
Page: 5
New Star
Product: New Star Managed Hedge Fund
Description: Run by Charlie Tritton and Gregor Logan it will invest in all seven of the company's public hedge products, making it the only open route to Alan Miller's UK long/short fund. It represents the company's predictions on the performance of its own underlying funds, combined with a judgement on the markets.
Page: 1
Royal Skandia
Product: US Dollar Protected Equity Performance fund
Description: A US dollar denominated capital protected product that invests in a basket of growth funds:
Page: 5
Man Investments
Product: Man Global Strategies Diversified Series 2
Description: A guaranteed bond structure which has the potential for either profit lock-ins or income returns. It offers investors alternative ways to access the Man Global Strategies Diversified portfolio
Page: 3
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