European Subprime Fund Halts Redemptions

  • 06 Aug 2007
Email a colleague
Request a PDF

Germany’s third-largest mutual fund manager halted redemptions from a fund invested in subprime mortgages last week, reports CE.cn. Union Investment Asset Management Holding put a stop to redemptions after investors redeemed €100 million ($137.94 million) from the €950 million ($1.31 billion) ABS-Invest Fund, a company spokesperson said on Friday. The spokesperson cited illiquidity in the market as a cause of the halted redemptions. “A lot of the subprime debt lies with European managers,” said Iain Beattie, a consultant who advises pension funds at Watson Wyatt Worldwide in London. “There could be more news to drip out on this.”

Click here to read the story from CE.cn

  • 06 Aug 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 98,544.62 277 13.26%
2 Bank of America Merrill Lynch 90,698.73 264 12.20%
3 Wells Fargo Securities 70,282.48 216 9.45%
4 JPMorgan 51,967.93 167 6.99%
5 Credit Suisse 41,545.25 126 5.59%