UBS and Fortis take credit for alpha
UBS Investment Bank and Fortis Investments have pioneered a novel way for investors to generate alpha through structured notes linked to the credit markets. John Ferry examines the offerings
UBS Investment Bank has launched structured notes designed to give investors superior performance in the credit markets through a combination of, respectively, long and short positions in mainly A-rated, and high-volatility BBB-rated, credit derivatives indexes and individual credits. The Cezanne Credit Arbitrage Notes are linked to a long/short credit fund run by Fortis Investments, and are designed to generate alpha for investors but in a defensive way, according to Cian O'Carroll, the asset
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