Feature
A false sense of security
Recovery rates - Cutting edge
Ultimate recoveries
Recovery rates - Cutting edge
Merrill to launch options on vol swaps
New angles
Technology briefs
Systems
The dividend divide
Cover story
The operational risk pyramid
Risk analysis
Job Moves
People
BNP Paribas beats SG for ZCM assets
New angles
Unexpected recovery risk
For credit portfolio managers, the priority is to properly incorporate recovery rates into existing models. Here, Michael Pykhtin improves upon earlier approaches, allowing recovery rates to depend on the idiosyncratic part of a borrower’s asset return,…
Gartmore sets its business plan in action with credit hedge fund
New credit fund has greater capacity than previous funds
Eastern European stocks excel in illiquid markets
The boom and bust reputation of emerging markets is slowly disappearing
Renewed merger activity provides greater choice
The rise in equity markets has created new funding options for takeovers
Commercial risk prohibits managers revealing shorts
regulators must accept lower transparency on short side
Making waves
With returns of 88.74% since inception, IAM's Alternative Investment Strategies fund of hedge funds is keeping its investors happy
New database to match credit derivative names
2,000 names will be made available for greater transparency