Rival products combine in first principal-protected mutual fund
New York-based Structured Investment Management (SIM) has blazed a trail for capital-protected mutual funds in the US by launching the S&P 500 Capital Appreciation Fund. The fund, which became available on the mutual fund platforms of Charles Schwab and Fidelity in early March, aims to replicate the return of the S&P 500 by using a variety of investments, including derivatives.
SIM has filed a domestic and international patent on the product, which is the first of its kind according to Ramesh
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