Jubilee structures deals to cope with choppy 2011
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Head of distribution Ian Millward says the firm is looking to position itself as an alternative investment player but that structured product launches will focus on mainstream investment themes.
He says: "In the current climate, most investors and IFAs are not feeling that speculative and people's benchmark is cash more than ever so the simpler and safer that we can create things the better now.
"We are 12 months to two years away from investor confidence returning, although that does not mean we would not look at other structures before then. But at the moment, we will continue to try to create products that give returns in flat markets, that is the ideal scenario."
Millward says Jubilee's broad market view is that 2010 should be reasonably steady but 2011 and 2012 could get "quite choppy".
He says: "There could be a second wave to come through. It will not be as severe, clearly, but we will use that to influence the shape of our products so we are looking at anything that is highly geared or that triggers a payout on a flat return."
Jubilee has embarked on aggressive recruitment plans to secure a stronger sales unit in London but Millward says it is a challenge to find quality staff. He says: "It is not easy to find enough of the right quality people to join a new brand. Twelve months down the line, people will know a little bit more about Jubilee but it is a challenge to start with."
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