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 241,977.38 927 8.19%
2 JPMorgan 223,817.40 997 7.58%
3 Bank of America Merrill Lynch 216,160.55 723 7.32%
4 Barclays 185,098.93 672 6.27%
5 Goldman Sachs 158,991.47 518 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 JPMorgan 32,522.19 61 6.54%
2 BNP Paribas 32,284.10 130 6.49%
3 UniCredit 26,992.47 123 5.43%
4 SG Corporate & Investment Banking 26,569.73 97 5.34%
5 Credit Agricole CIB 23,807.36 111 4.79%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 10,167.68 46 8.81%
2 JPMorgan 9,894.90 42 8.58%
3 Citi 8,202.25 45 7.11%
4 UBS 6,098.17 23 5.29%
5 Credit Suisse 5,236.02 28 4.54%