Product Launches round-up

September 2008

Zurich has launched the Zurich Green Guaranteed Account 2 (GGA2), which offers intermediaries and their clients a Guaranteed Account which is linked to the green business sector. Investors will benefit from 100 per cent of any growth in the RBS Green Index, which comprises the 30 largest companies that operate within the sector, such as those involved in hydroelectricity, solar energy and wind energy. Open for investment until 28 October 2008, the fund matures on 31 October 2013, and no withdrawals may be made during the term of the account.

Policy Selection Ltd (PSL), based in the Cayman Islands and the UK, has launched the Assured Fundo onto the Swedish market. The open ended fund invests in US senior life settlement policies, and is currently generating eight to 11 per cent per year without the added risks of pure equity-based investments. The fund is available to Swedish pensions and institutional fund investors.

Mashreqbank has launched the Mashreq Arab Tigers Fund, an authorised undertaking fund for Collective Investment in Transferable Securities (UCITS). The fund, which is domiciled in Ireland and listed on the Irish Stock exchange, is aimed at allowing investors to access the growing MENA equity markets through an on the ground regional institution.

The increasing strength of the African market has been recognised by ARCH Financial Products (ARCH) with the launch of their Sub-Saharan African fund, the ARCH Africa Private Markets Focus IC fund. The fund was launched last quarter with capital of US$12 million, and to date has returned 2.75 per cent. The fund, which targets an annual return of 20 per cent, aims to provide sustainable sources of profit by targeting sectors such as infrastructure, natural resources, agri-business and real estate.

The Baring Alpha Currency Fund is to be launched by Baring Asset Management, subject to regulatory approval. Due for launch in October, the fundamental, macro, long/short strategy aims to provide high absolute returns which are expected to be uncorrelated to equities and bonds. Baring believes this will offer investors an alternative source of alpha and diversification.

HSBC Global Asset Management is to launch the HSBC GIF Middle East and North Africa (MENA) fund by the end of October. The product, which is subject o regulatory approval, will form part of HSBC’s flagship Global Investment Funds SICAV and will be based in Luxembourg. The product will be available for sale in more than 35 countries and will be managed by Andrea Nannini and his team at Halbis, HSBC’s active management specialist.

Barclays Capital has announced the launch of its Target Alpha Program (TAP), which aims to deliver returns of four per cent per annum above the Euro money market. The multi-asset, liquid alpha strategy offers investors diversification, stability of returns, low illiquid asset risk and medium downside risk. As well as being available to pension funds, it is also suitable for institutional investors, hedge funds, private banks and asset managers.

A new Pension Trustee Liability (PTL) product has been unveiled by ACE Europe (ACE), the ACE Elite PTL IV, designed to provide comprehensive protection for trustees, schemes and employers in the Republic of Ireland. The product provides protection against costs incurred in taking action to prevent, limit or mitigate exposure to potential claims, extradition proceedings against trustees, court applications, investigatory and prosecution costs, and cover for PR expenses to limit the damage of negative publicity on the fund’s reputation.

Morgan Stanley Investment Management (MSIM) has launched the Morgan Stanley Investment Funds Diversified Alpha Plus onto the market. The Fund is a UCITS III fund, allowing European investors to hold a multi-asset class investment portfolio and gain exposure to a range of alpha sources. The Fund follows a Global Tactical Asset Allocation investment strategy, and both long and short positions are taken, including a long position on commodities exposure.