The events of March 2020 sent the financial markets into a downward spiral, recording significant drawdowns and levels of volatility not witnessed for decades.
Some open ended structured funds and funds of structured products took a hit as the buffer in the bonus and discount certificates in their portfolio became too small, and they could not be sold in the secondary market, others claimed that even at the March lows the relevant indices were roughly 20% above the levels where capital would be risked. The £81.5m (US$113.4m) AUM VT Protean Capital ELDeR Fund took advantage of its focus on risk management which became particularly evident d
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