For the first 10 years, John McLaughlin, the fund’s manager and head of portfolio solutions, will invest in a multi-asset portfolio, run by head of multi-asset investments Johanna Kyrklund.

During the next 10 years, the fund will deliver returns on a quarterly basis - equivalent to 7.5 per cent per annum of its highest net asset value over the previous decade. This payment will be protected by a structured product-style derivative deal.

The fund will also make a lump sum capital payment after the full 20 years. 

In other recent developments, Diego Cavero Mitjans was appointment as head of the UK-based investment manager’s private banking representative office in Spain in May.