Tools of the trade
Single-tranche CDOs are becoming more popular with Asian investors, and to win the business in an increasingly competitive market, banks are rolling out technical tools to help investors build and monitor their portfolios. Mia Trinephi reports
The collapse of Italian food company Parmalat at the end of last year was just another reminder to investors about the downside of static-pool synthetic collateralised debt obligation (CDO) portfolios, and, conversely, emphasised the flexibility and versatility of single-tranche CDO transactions. Unlike static-pool portfolios, single-tranche CDOs are constructed for individual investors. Clients are allowed to have a say on the composition of the portfolio, meaning it is tailor-made to fit their
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