Australian manager LM enters UK market

Australian group LM Investment Management has entered the UK market with the launch of its first structured product offering exposure to Australia's benchmark equity index.

Developed by LM Exane Investment Solutions, a new joint initiative between LM and Exane Derivatives, the Bull ASX 200 Index – 100% Guaranteed Capital product will have a five-year lifespan. It will return 110% of any gains in the underling index over the life of the product, provided performance does not exceed 60%. Should 110% of the final performance finish exceed 60%, investors will receive their initial capital plus 50% upside. Unlike many similar structured products, Exane will offer a daily secondary market, with a maximum bid/offer spread of 1%. Its currency will be Australian ...