Scottish Equitable Preps CPPI Fund

Scottish Equitable is readying its first capital-protected investment product.

  • 11 Feb 2005
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Scottish Equitable is readying its first capital-protected investment product. The structure will use constant proportion portfolio insurance to provide capital protection, with assets being moved between cash and a Merrill Lynch FTSE100 tracker.

Jacqueline Dow, onshore bonds marketing manager in Edinburgh, said Merrill Lynch and Scottish Equitable plan to add an options overlay to the FTSE100 tracker. This would likely involve either entering swaps, or selling equity futures, said Dow, but the final details of the product have not yet been confirmed.

Merrill runs several of Scottish Equitable's passive funds, according to Dow, and this is why it was chosen as the counterparty on the CPPI fund. Barclays Capital, however, provides the gap-risk guarantee and was chosen because it offered the best terms, coupled with a name investors will recognize.

  • 11 Feb 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Mar 2017
1 Bank of America Merrill Lynch 10,650.87 23 11.13%
2 Deutsche Bank 8,169.49 17 8.53%
3 HSBC 6,243.46 23 6.52%
4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Mar 2017
1 JPMorgan 5,440.56 17 10.74%
2 Deutsche Bank 4,468.97 23 8.82%
3 UBS 3,742.72 17 7.39%
4 Citi 3,393.89 23 6.70%
5 Goldman Sachs 3,360.93 18 6.63%