London Fund Manager To Launch High-Yield Fund

  • 24 Feb 2002
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Royal London Asset Management, which manages £7 billion in fixed-income assets, will launch a high-yield fund in the second half, specializing exclusively in European credits. Andrew Carter, cio, says the launch is a response to market demand as investors are expressing an interest in venturing down the credit rating spectrum. Jonathan Platt, head of fixed-interest investment management, will run the new fund. Currently, the firm manages only an undisclosed "small amount" of high-yield assets and the size of the new fund should be about £25 million. The fund will invest in sub-investment grade credits, illiquid debentures, crossover credits and some investment-grade debt. Separately, the firm is looking to hire a fixed-income portfolio manager to replace Paul Doran, who has moved over to head the quantitative team concentrating on equities.

  • 24 Feb 2002

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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

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1 Citi 108,190.43 309 12.88%
2 Bank of America Merrill Lynch 95,782.14 279 11.40%
3 Wells Fargo Securities 80,847.28 245 9.63%
4 JPMorgan 58,524.24 184 6.97%
5 Credit Suisse 43,977.05 134 5.24%