Investors buy into CPPI



Constant proportion portfolio insurance (CPPI) products have been growing apace in the past months and becoming ever more complex as structurers take advantage of the tradability of credit indices and the liquidity of the credit default swap market.

Though the market for credit CPPI products only took off in April 2004, with ABN Amro's Rente Booster paying a 1.2% coupon and additional performance linked to iTraxx Europe, interest and innovation has increased since the market's correlation bli

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