Henderson Global Investors is looking to expand its structured products business into the high-net-worth private client arena. Mike Chadney, head of structured products and derivatives in London, said, "Many high-net-worth individuals are becoming more sophisticated and interested in capital guaranteed structures."
Henderson markets structured products for retail investors and pension funds but does not have any exposure to the high-net-worth market. Chadney said that following the economic boom there are many wealthy individuals looking for the security of capital guaranteed structures and Henderson is well-positioned to provide such products. The fund manager will be looking to use all the major firms and exchanges as counterparties to such deals.
Investec Financial Products has also recently issued principal protected products for high-net-worth investors. Andrew Irvine, head of structured investment products, said the growing interest is driven by the uncertainty of the markets.
Henderson's parent, AMP, announced in May its intention to spin off the subsidiary along with other U.K. investment services. The new company is likely to be called Henderson. Chadney hopes to step-up plans once the de-merger is approved. AMP is planning an extraordinary general meeting at the end of the year to approve the de-merger.
