Saxon Financial launches fund-linked PPN in Canada
Investment fund manager Saxon Financial has launched a principal protected note (PPN) in Canada. The Bank of Montreal Saxon Balanced Protected Deposit Notes, linked to the performance of the Saxon Balanced Fund, offer up to 200% of the potential returns of the fund.
The investment term of the notes is 5.5 years and the capital is 100% protected. “The product is tailor-made for those heading for retirement, wanting a balance between wealth preservation and growth potential,” says Allan Smith, chief executive of Saxon Financial in Toronto.
The note is the second product that Saxon Financial has launched this year for the adviser channel. In June, Saxon
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