European Products July 2009

Standard Life Investments has strengthened its distribution links in Germany with the announcement that its Luxembourg-domiciled SICAV fund range is now available to key intermediaries in Germany, via Moventum's fund platform. Last month, Standard Life Investments signed an agreement with MFEX Mutual Fund Exchange to distribute its SICAV range in Scandinavia.

Iveagh Ltd has announced that its Iveagh Wealth Fund will move to daily dealing from 1 August 2009, in response to demand from financial advisers who want to access the fund for clients via the onshore bond market and fund platforms. Institutional investors, private banks and the charity sector have all reportedly shown interest in the fund.

RBC cees, a branch of the Royal Bank of Canada, has launched two Qualifying Recognised Overseas Pension Schemes (QROPS), available through its offices in Guernsey. Designed for individuals, RBC cees also offers trustee and administration services to corporates wishing to establish their own QROPS. The products are aimed at those with UK pension benefits who have already planned to become non-resident (to the UK) for tax purposes, and can then move their pension benefits out of the UK to a QROPS with full approval from HMRC.

Novia has launched one of the largest ranges of cash options of any provider onto the UK market, aiming to accommodate advisers and clients who are looking for good cash returns whilst their funds are between investments. The cash deposit offering provides an integral cash facility, competitive interest rates and access to seven cash deposit providers, as well as other advantages.

db x-trackers has listed its DB Commodity Booster DJ-UBSCI ETF (exchange traded fund) on the Deutsche Boerse, linked to the DB Commodity Booster DJ-UBS Index. The new launch allows investors to take instant exposure to a diversified pool of commodities with intra-day liquidity. The Index has current weightings of energy (31.3%), precious metals (11.9%), base metals (25.7%) and agriculture (31.1%).

Liontrust Asset Management has launched its European Absolute Return Fund, which uses the same investment process as its Cashflow Solution, to make money for investors over the medium-term in rising and falling markets. The fund will be managed by Gary West and James Inglis-Jones.

HSBC Global Asset Management has launched its MultiAlpha Global Aggregate Bond Fund, a manager of managers fund managed by HSBC Multimanager. Three underlying managers, Loomis Sayles, Pimco and Franklin Templeton, have been selected at outset, and the portfolio will invest across the entire fixed income opportunity set.

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