Royal London Takes Credit Derivatives Plunge

Royal London Asset Management has entered the credit derivatives market with the launch of a credit-default swap trading mandate.

  • 06 Jan 2006
Email a colleague
Request a PDF

Royal London Asset Management has entered the credit derivatives market with the launch of a credit-default swap trading mandate. The manager, which has more than GBP24 billion (USD43 billion) in assets under management, began trading credit-default swaps on the new sterling iTraxx credit index last month as an extension of its life funds. In addition, it has invested in SDI-75 Funding, a 10-year fixed-rate note referencing the new sterling index.

RLAM first considered adopting credit derivatives in the Spring (DW, 8/26), but the introduction of the sterling iTraxx in December kick-started trading. Stephen Booth, fund manager, said the manager has executed both long and short trades on the index with notionals of around GBP5million. He declined to name counterparties, but noted the manager is also considering using single-name CDS.

  • 06 Jan 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%