Coutts expands hedge fund portfolio

Coutts has launched a guaranteed fund of hedge funds and is set to launch the Asian Orbita fund later in the year. Coutts is intending to raise at least £100m in the Orbita Diversified Strategy Deposit. Clients will be able to transfer money from existing accounts into a three-year deposit fixture, whose interest is linked to the performance of a newly-created fund of hedge funds. After the first year, clients will be offered a quarterly facility to break the fixture, but should this facility be used, there is no guarantee of recouping the initial deposit. Funds are chosen through Co...