Coronation International, a fund of hedge funds manager with some $1.4bn (€1.4bn) under management, is launching two hedge fund notes, through which it hopes to raise £100m (€156m).

One of the sterling-denominated hedge fund products will have the option to add capital protection, while the other will offer additional leverage. For the protected fund, Dresdner Bank will guarantee to return 100% of the capital after five years.