Man builds further on its innovative investment opportunities

The product is being launched in conjunction with The Commercial Bank of Qatar ('CBQ'), a leading local bank, and Qatar Insurance Company, the largest insurer in Qatar.

This latest investment opportunity follows the successful launch of a previous joint initiative between Man, CBQ and QIC which raised over $37.5 million. QIC, which has also shared a long alliance with Man, is the lead underwriter for issuing the product's bonds with CBQ. The investment manager, Man, is part of Man Group plc, a major international financial services business that is listed on the London Stock Exchange and is a constituent of the FTSE 100 index of leading shares.

The new Series Q investment product targets medium-term annualised growth of 19%1, while aiming to restrict the associated level of risk. The offer of bonds is for a limited period, and applications must be received by 20th June 2002.

One exciting characteristic of the new Series Q investment product is a profit lock-in feature, allowing a portion of net new trading profits to be locked in following periods of sustained profitability. This is in addition to a capital guarantee2 provided by Barclays Bank PLC, ensuring investors the return of at least the face value of the bonds they hold at maturity, subject to relevant terms and conditions. The profit lock-in feature is designed to enhance the guarantee level over time.

The new Series Q investment product builds on the success of the Man-IP 220 product family, a highly successful range of investment products that have demonstrated an ability to produce stable returns whether global markets are falling or rising. The lack of correlation that the product's underlying investment strategies share with traditional assets make it an ideal candidate for investors seeking to add diversification to their traditional equity portfolios.

Andy Stevens, The Commercial Bank of Qatar's General Manager, commented, "We are very pleased with this latest step forward in our relationship with Man, enabling us to bring investment opportunities specifically to meet the needs of investors in Qatar.

The $10,000 minimum investment brings such opportunities within the means of many investors who might otherwise not be able to consider the high minimum commitments normally associated with alternative investments. Also, there are no up-front fees to the investor, which means that all their capital is put to work for them. We are expecting a considerable amount of interest." Mohd. Mandani, Deputy General Manager and Chief Operating Officer at The Commercial Bank of Qatar, explained the increasing popularity of alternative investments, and the logic of incorporating such a strategy into an existing portfolio. "The bank, as investors ourselves, has experienced first hand the benefits of investing with Man, having participated regularly in their funds over the past thirteen years. The ability of Man's products to improve the overall risk/reward profile of our portfolio has been even more obvious during the past two years of falling stock markets."

With this product, Man adds to its line of products tailor made for investors in the Middle East region. "Series Q offers exposure to a proven product structure," said Antoine Massad, Associate Director and Head of Middle East and Asia for Man.