Market snapshot

After making marginal gains in April, Investec’s market share saw a steep decline in May but it maintained its top spot in the UK, while Citi took the lead in the US. Tim Mortimer analyses the issuance in the UK and US markets


Reverse convertibles maintained their rediscovered popularity in the US in May, making up almost half of new issuance with $252 million of notional and a 48.6% market share. Second spot was taken by capital-at-risk accelerated growth products with a notional of $171 million and 33% market share on the basis of only 32 individual products. Kickout products were third most popular and though the disadvantage of this type of the investment is the uncertainty of product maturity and reinvestment

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