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Banking

Private banking index funds: Private banking returns for everyone

Funds that offer private banking clients’ portfolio returns are being launched in March by the creators of the FTSE Private Banking Index series.

Investment benchmark providers Solutions for Wealth Capital Management, the parent company of Private Banking Limited Group, is launching two funds that invest in the FTSE Private Banking Balanced Index and Growth Index respectively across four currencies. More than 40 international private banks contribute their allocations for the production of the indices, and returns have been impressive. The growth index has matched or outperformed all major equity markets in 2007 and this year to date, with a volatility of between 6% and 8%.

The launch of the fund means that retail clients and mass-affluent clients will now be able to benefit from private banking returns. The returns, alongside monthly liquidity, and transparency will also be of appeal.

High-net-worth twists

Ariel Salama, chairman of Solutions for Wealth Capital Management, says that investment banks have also been buying units of the fund to put into structured products for high-net-worth individuals. "Several have signed with us, and are offering twists on the index, such as CPPI products, or leveraged products."

Solutions for Wealth Capital Management is also working on an alpha fund.

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