Wahrer Sinn für Proportionen
Eine neue Generation von Constant Proportion Debt Obligations ist im Kommen. Unter anderem bietet sie flexibles Timing beim Index-Roll, einen Verwalter sowie breitere Möglichkeiten zur Eröffnung von Kauf - oder Verkaufspositionen bei Einzelkrediten. Duncan Wood berichtet über die neuesten aufstrebenden Produkte
Am Markt für Constant Proportion Debt Obligations (CPDO) beginnt der Champagner in Strömen zu fließen, denn vor dem Hintergrund neuer Rating-Methodologien können die Banken jetzt Geschäfte umsetzen, die sie seit Ende letzten Jahres in der Schublade hatten. Im April schloss Lehman Brothers das erste teilweise verwaltete Geschäft ab, und ABN Amro will die erste vollständig verwaltete Transaktion im Juni abschließen (siehe Kasten).
Viele andere verwaltete Geschäfte stehen kurz vor dem Launch, aber
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