UOB manages second CDO

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The largest synthetic collateralised debt obligation (CDO) to be managed by an Asian fund manager, Singapore’s UOB Asset Management (UOBAM), has been launched by JP Morgan Chase. The transaction comes just months after UOBAM’s first foray into managed synthetic CDOs, a deal arranged by the US bank’s rival, Deutsche Bank, in September.

The $1.7 billion deal, called United Global Investment Grade CDO II, closed in mid-December, and is the latest in a string of managed synthetic deals involving

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