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Nomura Jumpstarts Fund-Linked Biz

Nomura has closed its first fund-linked derivative deals.


Nomura has closed its first fund-linked derivative deals. The Japanese house, which has been building its business from scratch (DW, 7/30), completed two transactions, both leveraged share class deals for funds of funds, worth a total of USD500 million. Mike Fullalove, managing director in product development and fund derivatives in London, said the firm also has several CPPI products in the pipeline. The group is looking at structures linked to single hedge funds, mutual funds, hedge fund of funds and hedge fund indices.

In addition, Nomura's first structured product launch from its new platform, Altrus, will be linked to commodities and sold in Germany. Fullalove said the firm is also working on a couple of property-linked products.

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