Frisco Adviser To Add Euro Corps, TIPS

  • 16 Jun 2001
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Fremont Investment Advisors, a San Francisco money management fund, has raised some $8.5 million in cash which it plans to invest in euro-denominated corporate debt and 30-year TIPS. Sandie Kinchen, portfolio manager of about $125 million, says she is waiting for the euro to stabilize before she invests. She says there is no particular level that would trigger a move, merely that it would have to stop declining in value. Companies she likes include Deutsche Bahn Finance, which she notes is a stable, old-economy credit. The moves will come out of the firm's $85 million global fund, which, at a 5.34 duration, is short the 5.87 year J.P. Morgan Government Bond Index.

Kinchen sold TIPS of '07 within the last month, because she already owns the '09s. She will add $2-3 million in TIPS of '29 in a move to increase duration and consolidate her TIPS exposure.

The global fund allocation includes 27% in European sovereigns, 24% in high grade U.S. and European corporates, 15% in U.S. Treasuries, 12% in TIPS, 12% in emerging markets, 7% in cash and 3% in Ginnie Maes.

  • 16 Jun 2001

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 381.18 1768 8.35%
2 Citi 352.10 1516 7.71%
3 Bank of America Merrill Lynch 303.24 1307 6.64%
4 Barclays 273.33 1144 5.99%
5 HSBC 225.32 1243 4.93%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 56.71 230 8.32%
2 Credit Agricole CIB 44.23 207 6.49%
3 JPMorgan 34.02 99 4.99%
4 UniCredit 30.28 160 4.44%
5 SG Corporate & Investment Banking 29.88 150 4.39%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13.16 82 8.27%
2 Goldman Sachs 12.58 64 7.90%
3 Morgan Stanley 12.18 55 7.65%
4 Citi 10.09 71 6.34%
5 Credit Suisse 6.93 38 4.35%