Royal Fidelity in the Bahamas is talking to investors about the launch of a sixth tranche of its Tigrs series of structured products.
The firm is proposing Principal Protected Premium Rate Tigrs, a five-year capital-protected income structure linked to a basket of 10 stocks. The product would have a maximum annual yield of 10.55% and a minimum of 1% depending on the performance of the basket, which local news sources said will include JP Morgan Chase, McDonalds, Microsoft, Boeing and Chevron.
Joseph Euteneuer, Royal Fidelity's mutual fund manager, said the firm is talking to institutions at the moment to determine if there is enough interest but acknowledged that appetite for international investments was uncertain, given the current market conditions.
Tigrs5, its last product, fell well short of its $10m, raising just more than the minimum $1.5m.
Euteneuer said the fund would probably launch in early December.