Vontobel and responsAbility have launched the world's first listed financial product through which investors can support the development of independent media work in developing countries whilst achieving a financial return. Called the Voncert responsAbility Media Development, the new fund combines a fixed-income investment with an investment in the Media Development Loan Fund, which supplies loans on favourable terms to independent media organisations in emerging democracies. The product will be marketed by Bank Vontobel and the Swiss Agency for Development and Cooperation. The central component of the product is a loan to MDLF, charged at 1 per cent interest which has been integrated into a tradable structured fixed-income product. Investors can therefore invest in press freedom and independent media with a moderate level of risk via a conventional investment, said Vontobel in a statement on the launch of the new fund.