Wafa Gestion in Morocco has launched its first capital-protected fund for local investors.
Capital Garanti 2011 is also the county’s first structured fund (FCP) to have been agreed by the regulator CDVM, according to local news reports.
The 3.75-year fund offers full capital protection plus growth linked to a basket comprising the DJEurostoxx50, S&P500, Nikkei225 and Hang Seng.
The principal guarantee is provided by Wafa’s parent bank and distributor Attijariwafa Bank, which launched the country’s first dirham-denominated capital-guaranteed structured bond just six months ago.
Shareholders in Attijariwafa Bank include Santander, Caja de Madrid and Credit Agricole.
The subscription period extends until 18 July.