BNP Paribas and Momentum team with alternative structured notes

A new structured note product gives Asian investors exposure to hedge funds.
BNP Paribas has teamed up with hedge fund group Momentum to provide Asian clients with a new structured note product that gives them exposure to hedge funds.

The notes, which BNP Paribas has been offering to clients in Europe for two years, will be marketed to local discretionary funds, insurance companies and corporate treasury funds as an alternative to cash.

Investors get a guarantee on 100% of principal while enjoying the upside offered by an absolute return fund. The notes have varying maturities from between three and 10 years.

The product puts a new spin on traditional structured notes, explains Patrick Tuohy, managing director of Momentum Asia. Instead of using zero-coupon bonds to provide...

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