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
  • 18 Sep 2019
1 JPMorgan 298,323.65 1341 8.59%
2 Citi 269,047.62 1134 7.75%
3 Bank of America Merrill Lynch 232,961.57 951 6.71%
4 Barclays 214,961.76 865 6.19%
5 Goldman Sachs 169,802.27 706 4.89%

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Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 BNP Paribas 34,547.72 148 7.51%
2 Credit Agricole CIB 33,319.19 143 7.25%
3 JPMorgan 25,404.62 68 5.52%
4 Bank of America Merrill Lynch 23,368.44 65 5.08%
5 SG Corporate & Investment Banking 22,509.71 104 4.89%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 9,273.59 56 10.30%
2 Morgan Stanley 8,122.33 40 9.02%
3 Goldman Sachs 7,738.32 41 8.60%
4 Citi 6,426.54 47 7.14%
5 UBS 4,913.18 26 5.46%