Services

 

Jud & Partner Strukturierte Produkte AG was created in 2008 from a division of Jud & Partner Vermögensverwaltungs AG. On the basis of structured products, we develop innovative, research-based investment products and tailored investment solutions for institutional investors and asset managers. In our role as a broker, we also screen suitable issuers for our clients to ensure best execution for their planned product. To this end, we have access to more than 20 issuing banks with which we have built up close business relationships over the years. This also allows us to offer highly competitive terms. As a specialist and independent advisor, we accompany our customers throughout the entire lifecycle of the product – from the initial idea to the development and launch through to repayment.


What are structured products?

 

The term ‘structured product’ describes a combination of conventional financial investments and derivative investment instruments that can be traded together as a new security with new features. The return depends on the performance of the underlying assets (e.g. bonds, equities, indices, currencies, commodities or interest rates) and the specific features of the product. Depending on the chosen strategy, products with flexible terms can be designed for practically any market expectation and risk profile.

 

 

Benefits for investors

Advantages of structured products compared with conventional financial investments

  • Precise control of risk and return
  • Optimisation and diversification of the portfolio with an almost unlimited number of possible combinations and features
  • Adaptable to the individual risk profiles and market expectations of investors
  • Flexible terms
  • Exploitation of different volatilities
  • Easy implementation of individual investment ideas with tailored products
  • Attractive returns possible even in declining or sideways markets
  • Rapid response to market trends
  • Simplified investment in less accessible markets
  • Fast creation and issue
     

Product categories

 

 

 

Yield-enhancement products

With yield-enhancement products, attractive returns can also be achieved in markets showing slight upward, downward or sideways trends. BRCs (barrier reverse convertibles) are by far the most popular products in this area. The investor usually receives a fixed coupon or buys the underlying asset at a reduced price (discount certificate). If the underlying asset moves within the pre-defined range, the product will generate a better yield for the investor than a direct investment. However, the investor forfeits full upside participation if the underlying asset performs better than expected. These products are suitable for investors with a medium to high risk tolerance, who expect equity prices to stagnate or rise/fall moderately.

Participation products

Participation products, such as equity baskets (Delta 1), are an easy and cost-effective way for investors to make diversified investments in underlying assets, such as equities, indices, currencies, precious metals or commodities. The investor participates directly in the price performance of the underlying assets. These products are therefore suitable for investors with a medium to high risk tolerance, who expect equity prices to rise or fall.

Capital protection products

With a capital protection product, the invested capital is fully or partially repaid to the investor at the end of the term even if the underlying assets have fallen in price. However, in return for this minimum repayment guarantee, upside participation is limited. Capital protection products are suitable for investors with a low or no risk tolerance, who have positive expectations of the market, but do not rule out corrections. Capital protection products can also be issued together with a coupon, which makes them suitable as a replacement or supplement for bonds.

Leveraged products

Leveraged products are options that are securitised. The investor acquires the right to buy (‘call warrant’) or sell (‘put warrant’) an underlying asset at a predetermined strike price on a specific date. The capital invested is lower than for a direct investment in the underlying asset, which is why participation in the price performance is disproportionately high in relation to the capital invested; i.e. there is a leverage effect. Leveraged products allow the investor to benefit from a short-term price trend or to hedge their portfolio without major reallocations. However, they require a high risk tolerance and constant monitoring, as there is a possibility of losing all the invested capital.

Overview of services

 


We offer you thematic investment solutions based on structured products, or we will be pleased to help you implement your own investment idea at the best price. Benefit from our extensive experience and our network of more than 20 issuing banks with which we have worked closely for many years.

 

Benefits for our clients

  • Everything from a single source
  • Advice and support with the implementation of your investment idea through to the finished product 
  • Independent selection of more than 20 issuing banks
  • Best execution
  • Public listing or private placement
  • Monitoring of the product on the secondary market until the end of the term 
  • Optionally on request:
    • Research, documentation and reports
    • Equity selection and description of the investment case for presentation purposes
    • AMC management (investment themes from the JPV investment universe)

From idea to finished product

The investment needs of institutional investors or asset managers and their clients can almost always be covered and implemented with a structured product. We will develop your idea further or convert your finished idea into a tailored product according to your requirements.

 

1st phase: Preparation

  • Provide advice on your product idea, plus feasibility study
  • Offer specific proposals for the implementation of your idea
  • Determine and fix the individual components and features of the product

 

2nd phase: Implementation

  • Pre-select potential issuers
  • Make enquiries with suitable issuers 
  • Recommend the best issuer with consideration of price and service quality
  • Place an order with the issuer
  • Term sheet check (indicative and definitive)
  • Support marketing activities (e.g. with research on underlying assets or a detailed description of the investment case) 
  • Public listing or private placement via the issuer

 

3rd phase: Term and repayment

  • Monitor the secondary market
  • Monitor the prices set by the issuer
  • Troubleshoot
  • Check coupon payments, knock-in events or early repayments
     

Services in detail

 


 

 

Product Design

Your individual investment needs and themes can almost always be covered and implemented with a structured product. We will develop your idea further or convert your finished idea into a product tailored to your requirements with the best issuer with the best price-performance ratio (best execution). We will accompany you throughout the entire life cycle of the product – from the initial idea to the development and launch through to repayment.

Thematic investment solutions

One of our main strengths lies in compiling promising investment themes with the help of diversified baskets on the basis of the latest research. The biggest advantage that a stock tracker certificate has compared with an ETF, for example, is that an investment theme can be broadly spread (but not overdiversified) via equities, and can be mapped to a single product according to the investor’s needs and preferences. In addition, passive 1:1 participation in the performance of the underlying assets is possible over any period chosen by the investor.

We will be pleased to help you create your personal product. If required, we can also provide you with complete documentation (investment case, title descriptions, etc.) for your chosen investment theme.
 

 

Best Execution

Benefit from our extensive network of more than 20 issuers. We ensure best execution for your product, and take over the order placement and processing of the business with the bank of your choice.

AMCs

AMCs (actively managed certificates) are the easiest and most cost-effective way to combine and actively manage a portfolio of equities or other assets in a single investment product.
We can offer you actively managed investment themes from an investment volume of CHF 1 million, with a choice of numerous issuers from within our network. We offer you advice on the investment strategy, securities selection and the fee structure, for example, and can also handle the management of the investments in accordance with the agreed specifications, if required.