UK - Alternative investments specialist Man Investments has launched a capital guaranteed fund-of-hedge funds.
The structured product – Man RMF Multi-Style Series 2 – will be composed of five hedge funds with complimentary investment styles.
The fund will target an annualised return of 13% to 15% for volatility of 7% to 9% during the medium-term. Man says that guarantees by investment bank BNP Paribas will ensure investors receive returns of at least 100% of the face value of their initial investment at maturity.
Additionally, it will include a profit lock-in feature which, subject to trading performance, has the potential to increase the level of the guarantees at maturity by locking in a portion of net new trading profits following periods of sustained profitability.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.