Man Launches Fund Based On Principal Protected Notes

Feb 3 2006 | 12:00am ET

Asset management firm Man Investments is launching a multi-manager, multi-strategy investment fund based on a principal protected note. The new fund, Man IP 220 International, will be available globally and is being marketed through the firm’s affiliates, such as Canadian hedge fund BlueMont Capital.

Man IP 220 International will be similar to the firm’s previous IP-line of funds, which offered investors access to a capital guaranteed hedge fund product. The new fund will invest in two products, the AHL Diversified Program, which is one of Man Investments’ primary managed futures products, and the Glenwood Portfolio, which is a fund-of-funds.

Investors have already put approximately $3 billion toward the new fund, which comes in both dollar- and euro-denominated bonds.

The dollar-denominated bonds will target annualized returns of 16-18% with a volatility of 17-19%. The euro-denominated bonds will target annualized returns of 14-16% and have a similar volatility to the dollar-denominated bonds. 

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