Private bank Coutts is aiming to raise at least £100m for a three-year protected product linked to a basket of 20 underlying hedge funds. The target yield on the product is between 7% and 10% a year.
Robert Dawkins, head of alternative investments at Coutts, said the product was being launched because of demand by clients for a less volatile, capital guaranteed product.
The three-year term product, called the Orbita Diversified Strategy Deposit, went into effect on 1 July. Investors put money