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BNP Paribas to launch structured product Ucits fund

BNP Paribas is to launch a structured product Ucits fund offering exposure to European equities.

The BNP Paribas Defined Return Europe Opportunity Fund, which launches next month, is Ucits compliant and is a six year auto-call product linked to the EURO STOXX 50 index. The investment manager is THEAM, a subsidiary of BNP Paribas Investment Partners.

It pays an 8 per cent coupon for each year the investment is held if the index closes at or above 100 per cent of its initial level on any annual valuation date.

Capital is fully at risk. Investors get their capital back only if the EURO STOXX 50 index is not below 50 per cent of its initial level at maturity.

The minimum investment is £1,000. There is no initial charge and annual management fee is 0.75 per cent. There is no exit fee.

The counterparty is BNP Paribas, but the fund is collateralised with either cash denominated in US dollars, euros, pounds or government bonds issued by Austria, Belgium, France, Germany, Sweden, Netherlands, UK or the USA.


Henderson’s Burvill plans to boost equity exposure in £1.1bn cautious fund

Henderson fund manager Chris Burvill is expecting to raise the equity exposure in his £1.1bn Cautious Managed portfolio in anticipation of a rally in markets. Burvill says he could take his equity exposure from its current position of 54 per cent to its 60 per cent limit. He says: “It is quite conceivable that we […]

FSA Letters 480

AIC warns of Ucis ban impact on VCTs

Venture capital trust shares may fall under the ban on the promotion of unregulated collective investment schemes to retail investors, the Association of Investment Companies has warned. Last month, the FSA moved to ban the promotion of unregulated collective investment schemes to retail investors, with promotion limited to sophisticated, high-net-worth individuals. In a letter to […]

Replace Clegg to avoid heavy election defeat, says senior Lib Dem

Liberal Democrats must ditch deputy prime minister Nick Clegg’s as leader or face electoral disaster, says former Treasury spokesman Lord Matthew Oakeshott. Lord Oakeshott says Clegg’s performance in the polls raises questions over his leadership and he would not survive as a company leader. He told BBC Radio 4’s The Today Programme: “We have lost […]

MM leader: FSA makes the right choice on Ucis

Given the increasing number of scandals involving unregulated collective investment schemes and the cost to the IFA sector, both in terms of likely compensation and reputational damage, the FSA’s Ucis proposals are to be welcomed. Last week’s consultation outlined plans to ban the promotion of Ucis and similar products to retail investors unless they are […]

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Pension freedom: wish you were here?

Out there lies a warm ocean of desert islands, sun, sand and palm trees, where individuals can choose how and when to tax-efficiently access their pension fund and realise the retirement dreams they have worked so hard for.


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