Toronto-based Abria Financial has launched a new principal-protected structured product that provides investors with exposure to the Abria Alternative Strategies Fund, a fund of funds. "We identified that a large number of our hedge fund investors wanted more steady, regular and reliable returns," said Henry Kneis, ceo.
Just over two-thirds of the investor's principal is placed in 10-year zero coupon notes issued by BNP Paribas and the remaining is leveraged four times and invested in the fund of funds. The minimum investment is CAD5000, the management fee is 1% and the performance fee is 10%. Calls to Christelle Maldague, a spokeswoman at BNP Paribas, were not returned.
