Private bank Kleinwort Benson is offering a managed retail structured product which apes the multi-manager process, with links to fund baskets selected on the basis of riskadjusted returns.
The Elite Rotator will be constructed using five baskets comprised of funds investing in sterling bonds and UK, US, European, Japanese and Asian equities.
Each basket will contain a certain number of mutual funds, all of which have been selected using Kleinwort's investment process and ranking system.
The product, which will substitute underperforming funds on an annual basis, will offer either 100 per cent capital protection with more than 100 per cent participation on the upside or 80 per cent protection with higher participation after five years.
As it is subject to capital gains tax rather than income tax, Kleinwort says the product – which has a five-year term – could typically form part of a Sipp or other lifestyle planning investment.
Minimum investment is £50,000. IFAs can determine the commission level.