News round-up

Close but no Knockout
Liontamer's Knockout Series 1 fund, which invests in the DJ EURO STOXX 50 Index, is set to continue for at least another year, after winding up 6% short of its coupon trigger level.

Over the past year the index has dropped significantly as European markets suffered, although since March this year, the index has been climbing steadily along with other global markets.

But by the start of September the index still had to gain another 13% to reach its initial starting level and at the beginning of October was still 6% shy of its beginning level of 3067.35.

If the index is at or above the starting point on October 1, 2010, then the fund will wind up and investors will receive a 24% coupon.