Morgan Stanley offers gilt-backed structured product

The latest issue of the six-year growth plan is backed by UK government bonds to secure the capital protection element of the product. Exposure to the credit risk of Morgan Stanley, who provides the derivative giving the return, is also mitigated as the bank posts cash into a segregated account on a daily basis. Any cash posted into this account are purely used to provide returns for the plan and cannot be used for any other purpose. Morgan Stanley executive director Marc Chamberlain says: "In 2009, when the entire banking sector was under immense pressure, discretionary managers, IFA...