Aviva to launch mutual fund-structured product hybrid

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Aviva launches new fund in the US

Aviva Investors in the US has announced plans to launch a fund that tracks the performance of four exchange-traded funds (ETFs) with capital protection provided by the purchase of US Treasuries. The Multi-Asset Preservation (Map) 2015 Fund will open for investment on August 30. The fund works like a mutual fund but includes several characteristics of a structured product, such as a special redemption date in 2015 and capital preservation. "The Map Fund has features of a structured product. Ho