Scottish Mutual jumps on hedge bandwagon

UK life company Scottish Mutual has launched a six-year 100% capital Guaranteed Pension Investment (GPI) vehicle. Its performance will be linked to a fund of hedge funds managed by Swiss investment boutique Bucephale.The life office, the latest in the UK to tie with a fund of hedge funds product, is aiming the vehicle at the high-end pension market as well as small occupational schemes.Returns on the GPI are linked to the performance of the Cayman Islands-registered Bucephale Balanced