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 JPMorgan 159,441.15 688 8.06%
2 Citi 156,412.44 629 7.91%
3 Bank of America Merrill Lynch 128,902.57 511 6.52%
4 Barclays 125,463.27 484 6.34%
5 HSBC 102,014.24 510 5.16%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 12,900.23 34 6.66%
2 BNP Paribas 12,334.48 61 6.37%
3 UniCredit 11,196.47 58 5.78%
4 Citi 9,580.75 37 4.95%
5 Deutsche Bank 8,953.95 35 4.62%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 5,254.13 23 10.50%
2 JPMorgan 4,766.39 27 9.53%
3 Goldman Sachs 4,259.98 19 8.51%
4 Citi 3,649.88 23 7.29%
5 UBS 3,602.23 16 7.20%