Another index linked fund launched
Macquarie has joined the ranks of managers offering equity linked investment funds.
Tuesday, February 4th 2003, 7:10AM
Macquarie has joined the ranks of managers who have launched funds linked to international sharemarket indices.
It launched a series of notes, under the name Highpoint, yesterday which are linked to the FTSE100 and S&P500.
Macquarie is seeking to raise between $20 million and $200 million through the offer.
The investment is an Australian unit trust which buys notes issued by Barclays Bank in London, and these notes track the relevant indices.
The minimum investment is $5000 and the term of the fund is seven years.
Like other equity linked investments offered previously by Forsyth Barr, BNZ and Westpac, Highpoint is protected regardless of how the indices perform.
Each 10% gain is locked in, even if the market subsequently falls.
Returns are capped so investors can do no better than doubling their money over seven years.
These notes are being offered to the public through the Macquarie High Point Trust and are only available through a Macquarie Equities adviser.
The group has plans to launch a second series which will be marketed through independent financial advisers.
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