Offshore Manager Offers Protected Portfolio

Dawnay Day Milburn, an offshore private wealth manager, is marketing a capital-protected structured note referencing bond, hedge fund, property and a handful of different equity indices.

  • 15 Dec 2006
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Dawnay Day Milburn, an offshore private wealth manager, is marketing a capital-protected structured note referencing bond, hedge fund, property and a handful of different equity indices. The note, offered in both U.S. dollars and sterling, is unusual in that it combines such a range of indices and also has only a three-year maturity.

Scott Kelly, a director in Jersey, Channel Islands, explained the firm was looking to structure the note with as short a term as possible. "I think people fundamentally have a problem looking out longer than five years," he added.

The structure was put together initially for one private client that wanted a structure that mimicked a diversified portfolio. DDM is marketing the notes to other clients now, although a closing date for this second issue has not been fixed.

The firm has invested in structured notes before but this is the first structure it has put together in-house. "We do not intend to punch out a raft of them but having this in the set of products [we offer] makes sense," said Kelly.

The note was hedged with ABN AMRO, which the firm chose for its competitive pricing.

  • 15 Dec 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 330,488.64 1282 8.09%
2 JPMorgan 322,584.56 1394 7.90%
3 Bank of America Merrill Lynch 296,928.01 1015 7.27%
4 Barclays 249,873.33 927 6.12%
5 Goldman Sachs 220,211.32 736 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 46,112.22 182 6.98%
2 JPMorgan 44,545.29 93 6.74%
3 UniCredit 35,639.50 153 5.39%
4 Credit Agricole CIB 33,211.72 160 5.03%
5 SG Corporate & Investment Banking 32,419.80 126 4.91%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,792.73 61 8.96%
2 Goldman Sachs 13,469.15 66 8.75%
3 Citi 9,716.40 55 6.31%
4 Morgan Stanley 8,471.86 53 5.50%
5 UBS 8,248.12 34 5.36%