Man Investment Products Limited, an international alternative investment manager, announced the launch of a new investment product specifically aimed at the Qatari investment market, Man 220 Plus Guaranteed (Series Q) Ltd. The product is being launched in conjunction with the local Commercial Bank of Qatar (CBQ), and Qatar Insurance Company, the largest insurer in the state.
This latest investment opportunity follows the launch of a previous joint initiative between Man, CBQ and QIC, which raised over $37.5 million. QIC, which has also shared a long alliance with Man, is the lead underwriter for issuing the product's bonds with CBQ. The investment manager, Man, is part of Man Group plc, a major international financial services business that is listed on the London Stock Exchange and is a constituent of the FTSE 100 index of leading shares.
The Series Q investment product targets medium-term annualized growth of 19 percent, while aiming to restrict the associated level of risk. The offer of bonds is for a limited period, and applications must be received by June 20, 2002.
The new product has a profit lock-in feature, allowing a portion of net new trading profits to be locked in following periods of sustained profitability. This is in addition to a capital guarantee, provided by Barclays Bank PLC, ensuring investors the return of at least the face value of the bonds they hold at maturity, subject to relevant terms and conditions. The profit lock-in feature is designed to enhance the guarantee level over time.
”Man enables us to bring investment opportunities specifically to meet the needs of investors in Qatar. The $10,000 minimum investment brings such opportunities within the means of many investors who might otherwise not be able to consider the high minimum commitments normally associated with alternative investments,” Andy Stevens, CBQ General Manager commented. “Also, there are no up-front fees to the investor, which means that all their capital is put to work for them. We are expecting a considerable amount of interest.” — (menareport.com)
© 2002 Mena Report (www.menareport.com)
