Structured Products - Volume 6/No 5

Keeping it in the family

US family offices control possibly the largest concentration of private family wealth in the world, so it is no surprise that creators of structured products are eyeing this space. But with the ultra-rich resembling small institutional investors more…

Strategic thinking

Banks and index providers have been quick to colonise the investment space vacated by stressed hedge funds after transparency became a byword for popularity. With both now offering proprietary dynamic strategies and promising alpha returns, will they end…

Retrospective: Avoiding the barriers

This JP Morgan product from November 2008 linked to a basket of four Asian indexes and promised a 2.05% quarterly income payment. In the event of a kickout, however, capital was placed at risk and the amount returned to investors would depend on the…

Retrospective: A simple plan

Barclays Bank issued a straightforward minimum return product just before the financial crisis, linked to the performance of the FTSE 100 index. Ensuing volatility and widening CDS spreads show why such products are rare in today’s markets

Accelerated returns

Morgan Stanley is offering the potential of accelerated returns with an investment in a six-year FTSE 100-linked growth product. The maximum payout is 80% of the initial investment, although capital is at risk

The increasing FX

FX-linked products are on the rise as yield hungry investors look to one of the few underlyings that has been feasible to structure into short term capital protected notes in recent times while hedging conditions improve for issuers. A transparent and…

Banca Fideuram focuses on clarity

Tightening spreads are making it more difficult for banks to factor protection into their products and although the market is stabilising, having protection and products they understand is still an important factor for Banca Fideuram’s customers. Clare…

Now you PRDC them...

Power-reverse dual-currency notes have represented something of a Trojan horse for dealers. The hybrid structures have been popular for more than a decade among a wide range of Japanese investors, from regional banks to pension funds. But now the strain…

Halliday goes the extra mile

New York-based Halliday Financial set up its structured products distribution business in October 2009, after consulting with one and all to ensure that its new business would not fall foul of the regulator. Sophia Morrell reports

ETFs step into the spotlight

As concerns over counterparty risk continue to drive inflows into exchange-traded funds, Richard Jory asks some of the market’s leading practitioners to offer their thoughts on how an increasingly attractive investment market looks set to develop

Market snapshot

Tim Mortimer of Future Value Consultants looks at the pricing issues for structured products in different markets and provides his trade of the month

Trading in the open

The development of the trading market for exchange-traded funds in Europe will depend on improvements in the reporting of off-exchange activity, though the wait for European legislation will be a long one. Further benefits would result from greater…

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