Mariner Coria: the changing face of arbitrage

Fund manager exploits mispricings linked to structured products and derivatives end-user flows

Jon Loflin (left) and Benn Eifert

A few months ago, the investment team at Mariner Coria began receiving calls from dealers eager to offload correlation risk between the euro/US dollar exchange rate and the Euro Stoxx 50 index.

Dealers accumulated the exposure as US retail investors piled into currency-hedged exchange-traded funds (ETFs) and structured notes referencing European equities – with one such ETF offered by WisdomTree Investments drawing nearly $16 billion of inflows since the start of this year.

The flows left

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: