US: Asset managers poised to cut private mortgage holdings

Hedge funds and other fast money firms are seeing a weakening bid from real money accounts for private-label RMBS paper, having already generated strong carry and price returns from the asset class. And as the market begins to cool, real money accounts are preparing to rebalance their holdings of these assets.

  • By Matthew Scully
  • 17 Mar 2014
While several big trades this year have helped fill investors’ books, recent lists have not found the same deep buyer base as earlier deals. And even in those earlier deals — such as the Dutch government’s three recent auctions of remaining assets from the bailed-out ING — there ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,347 16 16.63
2 BNP Paribas 2,866 11 10.96
3 Morgan Stanley 2,420 6 9.26
4 Goldman Sachs 2,276 6 8.71
5 Bank of America Merrill Lynch (BAML) 2,086 9 7.98

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 58,403.50 191 10.75%
2 JPMorgan 50,900.93 151 9.37%
3 Bank of America Merrill Lynch 41,109.55 134 7.57%
4 Wells Fargo Securities 40,627.46 119 7.48%
5 Credit Suisse 38,293.05 120 7.05%