U.K. insurerZurich Financial Services is marketing a capital-protected mutual fund product structured by Barclays Capital. The underlying three funds are managed by HSBC, and consist of a European, U.S. and U.K. equity strategy. Barclays provides 80% capital protection on the deal, through constant proportion portfolio insurance, which consists of moving assets under management between the three HSBC funds and a cash fund of its own, depending on the volatility of the equity funds.
Helen Barnes, a spokeswoman for Zurich in Swindon, Wiltshire, said the firm chose Barclays because of its expertise and proven track record. The open-ended product will be marketed through Zurich's Sterling financial advisers business.
