Funds spot equity puts as hedge for juicily cheap bank AT1 CoCos
![CoCos](https://assets.euromoneydigital.com/dims4/default/4f9cd57/2147483647/strip/true/crop/230x113+0+0/resize/840x413!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F27%2F4b%2F8940f2526ff08d66069ce44a11df%2Fcocos.gif)
Hedge funds and other asset managers are showing increased interest in hedging their investments in banks’ contingent convertible bonds with equity put options, writes Hazel Sheffield.
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