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Wizard plan for Barclays

Hedge fund specialist Fortune Asset Management is teaming up with Barclays to offer retail investors a capital-protected investment plan linked to the performance of a fund of hedge funds.

Fortune’s original Market Wizard is a multi-strategy fund of hedge funds, on which the structured product is based, is invested in around 30 hedge funds across 12 different strategies. The firm, which has been advi- sing on hedge funds since 1996, designed the Barclays’ market wizard protected plan to offer advisers a cost-effective way of getting hedge fund exposure for suit- able clients.

The plan has a minimum investment of 7,000 and is eligible for Isas, Pep transfers, self-invested personal pensions and small self-administered schemes. It will have a target return of 4 per cent above the Bank of England base rate – 8.5 per cent at the current rate.

The Market Wizard fund of hedge funds is an open-ended product, so the plan has no fixed investment term meaning the capital protection will not depend on the investment being held until maturity. Instead, investors can redeem the plan at 80 per cent of the highest-ever price on a monthly basis without penalty.

Fortune chief executive Simon Hopkins says: “The unfettered nature of the plan demonstrates that Fortune has the freedom to invest in the most attractive hedge funds worldwide. We expect strong interest from IFAs, wealth managers and discerning UK investors.”

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