Sold on the basis of promises of annual returns two or three times those of euro funds, structured products, offered in periodic bursts by life insurance distributors, attract subscribers.
“We have specialized in this type of investments for fifteen years. Since the creation of our H Range in 2009, we have already reimbursed, according to figures from the end of August, 111 of 137 supports, with an average remuneration net of costs of 10.01% per year, during an average stay period of two years »welcomes Julien Vautel, president and founder of the financial investment broker and advisor Hedios (partner of Suravenir). It recently launched a fund capable of generating 7% annually if European markets remain stable.
There is nothing magical about structured products. Without a doubt – and this is their great asset – they are immersed in financial engineering and can “adapt your performance engine to all market configurations, taking advantage of the volatility of the stock market, the level of rates or, as is the case today, both at the same time”summarizes Guillaume Dumans, co-founder of Feefty-Harvest Group, a platform specialized in structured management.
“We have just launched a new offer conditional on the evolution of ten-year interbank rates, in order to exploit all the potential generated by this asset class in the current context”explains for example Igor Ivanoff, wealth management advisor at ASAC Fapes.
Difficult to read rates
However, before rushing into these structured products, it is best to understand the risk involved. Their common principle is to commit, under various conditions, to repay, within a predetermined period, the investor’s initial investment (net of costs), increased by a return conditioned by the evolution of an underlying financial subsidy (a stock market index). , a basket of shares, etc.).
To do this, offers promoted for a limited period (from a few weeks to several months) combine, in a complex combination, the purchase of interest rate products (to protect capital) with the taking of forward options (to boost profitability) in order to make the most of the economic situation.
From this common base, each product designer develops their own structure. In any case, the turbo effect of the promised performance depends above all on five factors:
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