Protected floor on Investec MAP hits launch net asset value

The Investec Multi-Asset Protector fund's protected floor has hit its initial launch net asset value after climbing over 25% since inception last year.

Designed to capture the full upside of a multi-asset portfolio but with 80% downside protection, initial investors in the £123m fund should now be insulated against any capital losses following the gains since launch in February 2009. Managers Philip Saunders and Max King currently have 50% in equities and nearly 30% in bonds, with small allocations to both gold and property via low-cost ETFs and ETCs. The remainder of the portfolio is in cash. "We aimed to provide investors with a diversified multi-asset portfolio with some mitigation of downside in adverse market conditions," Invest...