Man Group announced today that its most recent global launch, Man IP 220 Series 4 Ltd (“Series 4”) has raised over $670 million of client money. It says this is a record for a single product offering.
The original Man IP 220 product has achieved an annualised net return of 19.4% since inception in December 1996. Man IP 220 Series 4 carries a capital guarantee from Lloyds TSB Bank to return at least 120% of subscribers initial investment at maturity. The structured product, offered in two currency classes (Euros and US dollars), will comprise investment exposure to the Man-AHL Diversified Programme and the Man-Glenwood Portfolio.
Commenting on the launch, Stanley Fink, Chief Executive of the Man Group plc, said: “This latest record product launch demonstrates the continued ability of the Man Group to structure and distribute products with enormous appeal to investors internationally. Man Group’s latest investment offering attracted a high level of demand due to its performance potential, backed by an impressive track record, and its low correlation with equity markets. This is an extremely attractive investment opportunity combining a capital guarantee arrangement that provides for the return of 120% of initial capital, with access to the portfolio diversification benefits of alternative investments. This further sales success will increase assets under management and underpin continued significant growth in management fees. “
The next global launch of a structured product will be Man Multi Strategy Series 4 Ltd, which will be open for investment on 28 October 2002.