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Derivatives

U.K. Boutique Eyes FTSE Hedge Fund Note

Pinder, Fry & Benjamin, a U.K. investment products boutique, is structuring a fund-wrapped product based on a FTSE hedge fund index.

Pinder, Fry & Benjamin, a U.K. investment products boutique, is structuring a fund-wrapped product based on a FTSE hedge fund index. The structure will use derivatives to offer investors leveraged exposure to the hedge fund index. The sub-index chosen by the boutique consists of 20 directional hedge funds, which generate higher returns than its parent. Charles Fry, a director of Pinder, Fry & Benjamin, said the index was chosen because its brand is well-known with U.K. investors.

The note will be capital protected using a constant proportion portfolio insurance structure and it will also likely have a third-party guarantee as well.

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