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The fund makes a notional investment in a protected portfolio, which is comprised of: an underlying asset (Nomura Global Property Index*), which provides the potential return + a reserve asset (cash holding), which provides the capital protection feature.
As the level of the protected portfolio increases - the exposure to the NGP Index is increased by selling reserve assets in order to buy more units of the NGP Index.
Should the level of the protected portfolio decrease the exposure to the NGP Index is decreased by selling some of the NGP Index units.
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