Merrill Lynch has launched Asian and Japanese research indexes that it is taking to investors in the form of over-the-counter structured investments. Similar structures, referencing indices based on stocks picked by in-house equity analysts, have been launched in the U.S. by Merrill and other firms (DW, 10/13). The index takes all of the buy-rated stocks from Merrill's research recommendations.
The indexes, managed entirely by research teams, are "our highest conviction stocks" according to Abhinav Gorawara, managing director of structured equity solutions.
Gorawara said that he believed that Merrill was the first to do this for Asia and Japan and has done several OTC deals on the index already, declining to disclose details.
