Frisco Adviser To Add Euro Corps, TIPS

  • 17 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.

  • 17 Jun 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 229,400.82 1038 8.26%
2 Citi 214,044.42 891 7.71%
3 Bank of America Merrill Lynch 178,387.58 739 6.42%
4 Barclays 167,949.72 691 6.05%
5 HSBC 136,723.94 748 4.92%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 28,097.02 113 7.90%
2 Credit Agricole CIB 26,053.43 108 7.33%
3 JPMorgan 22,052.77 54 6.20%
4 Bank of America Merrill Lynch 21,672.09 56 6.10%
5 SG Corporate & Investment Banking 17,266.33 82 4.86%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
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1 Morgan Stanley 7,509.08 37 9.66%
2 JPMorgan 7,363.27 46 9.47%
3 Goldman Sachs 6,842.44 35 8.80%
4 Citi 5,763.97 41 7.42%
5 UBS 4,691.07 23 6.04%