BNP launches second Dynamo credit CPPI
BNP Paribas is launching the second series of Dynamo hybrid cash and credit derivative notes, which will again be managed by Crédit Agricole Asset Management (CAAM).
BNP said the notes are designed to offer investors dynamic leverage on a portfolio of cash bonds and credit default swaps (CDS) without exposure to duration risk, which CAAM will manage using directional and relative value strategies. According to BNP, the €525 million of investment it has
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