Asian property grab

Underlyings

The market for structured products linked to real estate can be traced back some seven or eight years, as banks have looked to find ways for their clients to gain synthetic property exposure, at a time when the property markets have seen a near continuous one-way rise.

There have been some notable successes in the development of the product range. Barclays Capital's Property Index Certificates (Pics) range, introduced in 2004, with a yearly return in the region of 6%, has sold around £600 mil