KEY POINTS:
What is it called and what sort of savings product is it?
OM-IP 3 Eclipse is a capital- protected alternative asset investment.
What is the company behind it?
The investment manager is Man Investments, a wholly owned subsidiary of Man Group plc, one of the world's largest alternative asset managers. It was established in 1783 and is listed on the London Stock Exchange. Man Group has market capitalisation of more than US$21 billion ($26b) and has about US$68b ($85b) in funds under its management.
Who is the target market?
People wanting a higher risk offshore investment with some protection.
What return does it offer?
The fund aims to generate "medium-term capital growth in both rising and falling markets".
When was it launched?
February 11.
What other products is it like or is it competing with?
Man has produced similar funds that have been popular here.
Is it long term, short term or medium term?
It is a long-term investment with a maturity date of April 29, 2016. However investors can sell on a secondary market.
What is the unique selling point of the product?
The key selling point is its capital protection, which is provided by the Commonwealth Bank of Australia. Man also makes a big point of the fund having a low correlation with the performance of investments in stocks, property and bonds.
How strong a stomach do you need for it?
Medium.
What's the hitch?
Previous OM-IP investments have had some issue under the new fair dividend tax regime. Also, investors wanting to quit early on the secondary market may find there are few buyers willing to pay full prices for the securities.
