Insch Capital Management, a currency portfolio manager based in Lugano, Switzerland, has launched a structured product. While that may not sound out of the ordinary, chief executive Chris Cruden thinks it will be.

He is hoping the new product, “Goldilocks”, will displace funds of hedge funds from the portfolios of family offices and very rich investors. So far, it is looking good in terms of interest from wealth managers. However, this may be related more to dissatisfaction with hedge funds than to the merits of the Goldilocks offering.