Abbey to launch FTSE-linked commercial property products
Abbey Financial Markets (AFM), subsidiary of Abbey National, has provided the seed capital for the new FTSEpx fund launched by MSS Capital, an asset manager in the UK. This fund was launched with the FTSE UK Commercial Property Index Series on 26 June. And AFM is already working on a range of structured investments for both the retail and institutional investors based on the indexes.
AFM has invested in the FTSEpx fund since the commercial property sector has been attracting retail investment in funds. London-based Richard Williams, head of derivatives and structured products at AFM says the group is looking at ways to develop products that will appeal to the retail market.
MSS Capital says four other investment banks have also agreed terms for a FTSE license, to use the index
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