Investors Told To Pick Up Due Diligence

Some asset managers are not tracking their collateralized debt obligations well enough and may be caught out once the underlying collateral begins to weaken.

  • 24 Jun 2005
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Some asset managers are not tracking their collateralized debt obligations well enough and may be caught out once the underlying collateral begins to weaken. That's according to Chris Flanagan, head of asset-backed securities research with JPMorgan in New York, who said many asset managers need to better monitor deals to identify problems early.

One problem is that some firms don't have sufficient infrastructure relative to the number of deals being managed. "It's a matter of looking at every [instrument] you own, looking for delinquency trends and running stress tests continually to make sure [it] is what you thought it was when you bought it," Flanagan said. Asset managers will one day be glad they did the extra work, he said, adding, "When things do start to weaken, we will see those differences realized."

  • 24 Jun 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 317,691.74 1201 8.90%
2 JPMorgan 291,227.96 1326 8.16%
3 Bank of America Merrill Lynch 285,088.11 991 7.99%
4 Goldman Sachs 217,749.25 714 6.10%
5 Barclays 209,291.80 811 5.87%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 32,320.82 147 6.67%
2 Deutsche Bank 32,259.50 104 6.66%
3 Bank of America Merrill Lynch 28,890.43 85 5.96%
4 BNP Paribas 25,663.29 144 5.30%
5 Credit Agricole CIB 22,617.86 130 4.67%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 18,160.85 71 9.15%
2 Morgan Stanley 15,215.44 76 7.67%
3 UBS 14,195.29 55 7.15%
4 Citi 14,014.57 86 7.06%
5 Goldman Sachs 12,113.98 67 6.10%