Bankers say collateralised debt obligations (CDOs) with CDOs as collateral – CDOsof CDOs – will take off in the next few years. These can allow investorsto manage their CDO investments more efficiently, transferring risk and optimisingtheir portfolios. But investors, managers and underwriters all face a persistentproblem – how to gauge the performance of a CDO of CDOs if you can’tbenchmark the performance of a CDO in the first place.
This issue is driving the CDO market to address performanc
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