Managed succession



Lehman Brothers and Dublin-based asset manager Pioneer Investments have just launched what is believes to be first ac tively managed constant-proportion debt obligation (CPDO), and several other banks are about to follow suit with similar products. These are seen as the second generation of CPDOs that may resolve some of the issues inherent in the initial round of products - static instruments based purely on credit indexes, led by ABN Amro's Surf deal last June. But they are unlikely to remove

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

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