Fund-of-funds house Man Group says its latest launch – Man Multi-Strategy Series 6 Ltd (Series 6) – has raised the equivalent of US$625 million of client money.
Series 6 was a global offering in two currency classes, Euros and US dollars. The portfolio includes allocations to arbitrage, equity hedge, fund of hedge funds, long/short equities and managed futures strategies.
Series 6 has an enhanced principal protection arrangement that ensures investors the return of at least 120 per cent of their initial investment at maturity, provided by ABN AMRO Bank N.V.
“The Man Multi-Strategy product family has enjoyed considerable success and has become one of the most sought after product structures offered by Man,” says Stanley Fink, Chief Executive of the Man Group. “By incorporating 120 per cent capital guarantees into an already attractive investment opportunity, Man has once again demonstrated its ability and commitment to providing investors with innovative alternative investment products.”
The next global launch will be Man RMF Multi-Style Ltd, which will be open for investment on 9 February 2004. This product will aim at medium-term annualised growth of around 13-15 per cent for an annualised volatility of around 7-9 per cent for both US Dollar and Euro class bonds while the Swiss Franc class bonds will aim at annualised growth of around 12-14 per cent for annualised volatility of around 6-8 per cent.