GLOBAL - JP Morgan Chase Bank has been appointed as guarantor to the latest offering from alternative investment manager, Man Investment Products.
Man’s is set to launch its latest capital guaranteed structured - Man AP Strategic Series 2 Ltd (Series 2) - on May 6, 2002 following strong demand from both institutional and private investors, said the firm.
The fund is available in both US$-class and Euro-class bonds, and targets medium-term annualised growth of around 14-16%, with volatility restricted to around 10-11%.
JP Morgan will guarantee the return of all initial investment capital when the bonds mature on November 30, 2013 - subject to the terms and conditions. In addition, a profit lock-in feature allows for the ‘locking-in’ of a portion of net new trading profits following periods of sustained profitability for Series 2, meaning that the guarantee level may rise. The operation of this feature is subject to the discretion of the investment manager and the prior approval of JP Morgan Chase Bank.
Series 2 will provide access to Man’s managed futures programme, the Man-AHL Institutional Portfolio, as well as to complementary arbitrage and equity hedge styles.
By Madhu Kalia