UK-based hedge fund manager Man Group has launched a new offshore registered capital-guaranteed bond for private investors, which is based on the returns of the firm's AHL hedge fund.
The Man AP Enhanced Series 2, registered in Bermuda, was launched on February 7 and is being sold to expert private investors internationally until March 21.
The bond, which is guaranteed by Citibank NA London Branch, part of US investment bank Citigroup, can be redeemed monthly and will mature on March 31, 2018.
Attracting an annual charge of 3% and performance fees of up to 20%, the bond is available in either euros or dollars, with principal protection of 115% and 120% respectively.
The instrument also has a profit lock-in feature which has the potential to increase the guaranteed amount at maturity.
The bond is based on the performance of the AHL hedge fund, which trades a number of stock index, bond, interest rate, metals and energy futures contracts around the globe.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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