European Subprime Fund Halts Redemptions

  • 06 Aug 2007
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Germany’s third-largest mutual fund manager halted redemptions from a fund invested in subprime mortgages last week, reports CE.cn. Union Investment Asset Management Holding put a stop to redemptions after investors redeemed €100 million ($137.94 million) from the €950 million ($1.31 billion) ABS-Invest Fund, a company spokesperson said on Friday. The spokesperson cited illiquidity in the market as a cause of the halted redemptions. “A lot of the subprime debt lies with European managers,” said Iain Beattie, a consultant who advises pension funds at Watson Wyatt Worldwide in London. “There could be more news to drip out on this.”

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  • 06 Aug 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 1,505.59 4 13.16%
2 SG Corporate & Investment Banking 1,292.64 1 11.30%
2 Rabobank 1,292.64 1 11.30%
4 Wells Fargo Securities 942.61 3 8.24%
5 Mizuho 875.48 2 7.65%