DrKW unveils new structured products

Dresdner Kleinwort Wasserstein (DrKW) has launched a set of structured products for institutional and high-net-worth clients, to be managed by Kleinwort Benson Private Bank.

Jonathan Kent, deputy chief investment officer of Kleinwort Benson, said the bank expects demand for structured products to continue to grow, and regards the Ucits structure, endorsed by the European Union for cross-border sales, as more likely to appeal to investors than rival offshore versions.

The Gresham Defined Funds, a Ucits III retail fund, has been launched with three equity-linked sub-funds – European and Japanese enhanced index funds and a US accelerator fund.

Mr Kent said that rival, non-Ucits versions had tended to be offshore, “and you can get hidden charges inside them, so they don’t always perform in the way you hope. The beauty of Ucits is that it is open-ended so you can continue to issue from the same sub-fund.”