Fitting structures into a portfolio

Structured products work best as a deliberate sleeve inside a diversified portfolio, sized to a clear job: defending capital, shaping income, or expressing a specific view.

They are not a substitute for a core of liquid, transparent holdings. Think of them as precision instruments used sparingly.

Start from the outcome you need, then choose the structure, not the other way round. A capital-protection note for a near-term goal, a Maximiser for a conviction view, a range structure for a sideways market.

Mind concentration in any single issuer or underlying, and keep enough liquidity outside these notes to meet your real-world needs.

If you can read a payoff diagram, size a barrier against volatility, and price the issuer behind the promise, you can evaluate almost any structure on its merits. That is the whole point of this Academy.