Circus Capital, a UK- and Hong Kong-based asset manager and provider of structured products, is offering new alternatives to Hong Kong and European clients stuck in low-performing with-profits funds offering by several British insurance companies offshore.
These are schemes sold by insurance companies that are 'with profits' because the asset managers smooth out returns, but because they are not marked to market on a daily basis, their actual performance is not transparent to investors.
These schemes were hot in the late 1990s, when the Nasdaq guided equity markets skyward and normally staid with-profits schemes were returning as much as 10% annually.
It...
