Investors Told To Pick Up Due Diligence

Some asset managers are not tracking their collateralized debt obligations well enough and may be caught out once the underlying collateral begins to weaken.

  • 24 Jun 2005
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Some asset managers are not tracking their collateralized debt obligations well enough and may be caught out once the underlying collateral begins to weaken. That's according to Chris Flanagan, head of asset-backed securities research with JPMorgan in New York, who said many asset managers need to better monitor deals to identify problems early.

One problem is that some firms don't have sufficient infrastructure relative to the number of deals being managed. "It's a matter of looking at every [instrument] you own, looking for delinquency trends and running stress tests continually to make sure [it] is what you thought it was when you bought it," Flanagan said. Asset managers will one day be glad they did the extra work, he said, adding, "When things do start to weaken, we will see those differences realized."

  • 24 Jun 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 417,651.57 1605 9.04%
2 JPMorgan 380,255.75 1735 8.23%
3 Bank of America Merrill Lynch 360,270.83 1308 7.80%
4 Goldman Sachs 268,034.61 924 5.80%
5 Barclays 267,242.43 1081 5.79%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 45,449.36 196 6.57%
2 BNP Paribas 38,734.80 217 5.60%
3 Deutsche Bank 37,615.10 139 5.44%
4 JPMorgan 34,724.19 118 5.02%
5 Bank of America Merrill Lynch 33,835.53 112 4.89%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 22,475.00 105 8.66%
2 Morgan Stanley 19,057.00 101 7.34%
3 Citi 17,812.08 111 6.86%
4 UBS 17,693.89 71 6.82%
5 Goldman Sachs 17,332.64 99 6.68%