Wisconsin Manager Seeks To Add Spread Product

  • 26 Aug 2001
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Reinhart, Mahoney & Bryden, a Mequon, Wis.-based firm with $700 million in taxable fixed-income under management, is seeking to shift up to 5%, or $35 million, to its corporate allocation. Jeff Bryden, portfolio manager, says he is waiting to be sure the economy has bottomed, and will read the text of last week's Federal Reserve press release closely, but did not specify a definitive time-frame for making the move. He declined to name specific credits or sectors he is interested in. He wants intermediate maturities to raise the duration on his intermediate portfolios closer to the fund's bogey, though he says much will depend upon the shape of the yield curve when he invests.

Among financials, Bryden likes regional banks, which he says have gotten better at asset liability management, and are not as sensitive as they used to be to shifts in interest rates. Banc of America is a name he has bought in the past and still holds. He may continue to seek to add to this name for clients who are not already loaded up in the paper. Industrials in the fund include Honeywell and Ford Motor Credit. He would likely use a combination of new cash flows and Treasuries to finance the new purchases, focusing primarily on intermediate maturity secondary issues.

Bryden says the firm might also consider adding 2%, or $14 million, to asset-backed securities. In the asset-backed arena, the firm favors credit-card and auto deals because he believes they offer the best combination of yield and high credit quality, as well as liquidity.

The firm's portfolio has an average duration of 3.5-years, slightly shorter than its most common benchmark, the 3.6-year Lehman Brothers intermediate index. It allocates 55% to corporates, 18% to mortgage-backed paper, 15% to Treasuries and 12% to ABS.

  • 26 Aug 2001

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
  • 16 May 2017
1 Deutsche Bank 19,381.65 47 8.82%
2 Bank of America Merrill Lynch 18,968.25 36 8.63%
3 HSBC 18,103.95 50 8.24%
4 BNP Paribas 8,911.57 55 4.05%
5 SG Corporate & Investment Banking 8,885.00 54 4.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2017
1 JPMorgan 8,714.26 35 8.36%
2 UBS 8,283.47 33 7.95%
3 Goldman Sachs 7,736.57 37 7.42%
4 Citi 6,897.11 46 6.62%
5 Bank of America Merrill Lynch 6,215.31 24 5.96%