CIMB offers dented banks
Malaysia's CIMB, has launched the Rebound FRNID (floating-rate negotiable instruments of deposit) product, which is designed to benefit from the potential rebound of four major global banks negatively impacted by the US subprime crisis: Citi, Merrill Lynch, UBS and Morgan Stanley.
“The investment theme is structured by taking the view that the four financial titans which have been affected are merely 'dented' in the short term,” says Kuala Lumpur-based Chu Kok Wei, vice-president of structured products and derivatives at CIMB. “This imitates the view of sovereign wealth funds such as Abu Dhabi Investment Authority (Adia), Temasek, Government of Singapore Investment (GIC)
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