LONDON (HedgeWorld.com)–Man Group plc* announced that its most recent launch, a capital guaranteed structured product called Man AP Unison Series 1 Ltd., has raised the equivalent of more than US$740 million.
Unison was offered worldwide in both euros and U.S. dollars, mostly to private clients. The underlying portfolio will consist of allocations to arbitrage, equity hedge, long/short equity, directional and managed futures strategies Previous HedgeWorld Story.
This is the latest addition to a series of Man structured notes that started more than three years ago with the launch of Man-AP Stratum Ltd., which has achieved an annualized net return of 19.9% from its inception in October 1999 to the end of May 2003.
“The record US$740 million raised for this product offering demonstrates the continuing high level of demand for Man’s investment products,” said Man Chief Executive Stanley Fink, in a statement. “This is underpinned by our strong investment track record, attractive product design and effective distribution network.”
The firm’s next launch, Man Global Strategies Diversified Ltd., is planned to open for investment on August 25. It will target medium-term annualized growth of around 13% to15% for volatility of around 7% to 8% and will come in U.S. dollar and euro class bonds.
*Man Group plc is a minority investor in HedgeWorld.