Structured products provider Blue Sky Asset Management has launched a six year Enhanced Growth Plan II - FTSE 100 Series investment.

This is the second version of the Enhanced Growth Plan - FTSE 100 Series, and is structured to offer a minimum return of 25 per cent if the FTSE 100 is at or above its starting level, with no growth in the index required. The investment offers full protection against any fall in the index, unless it is more than 50 per cent.

Blue Sky says the product should be seen as an alternative to traditional investment funds, passive funds and exchange traded funds. It says the FTSE would need to rise to 9,500 points before a direct investment in the index would outperform the plan. The counterparty to the plan is French bank Societe Generale.

Blue Sky chief executive Chris Taylor says: "The Enhanced Growth Plan Series offers investors seeking growth exactly what is wanted from a core portfolio holding : a minimum return, that requires no market growth; significant out-performance potential, with a high maximum upside; and deep protection from market risk."

The minimum direct or new ISA investment is £10,000. The minimum for ISA transfers is £5,000.

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