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Investment banks are seeing increasing interest from owners of sports teams throughout Europe -- including Manchester United Football Club -- who are mulling the option of securitizing club assets. Restructuring company finances or expanding seating capacity are primary drivers, banker said.

The announcement by London-based investment bank HSBC Holdings and Irvine, California-based real estate investment trust and mortgage finance company New Century Financial of an increase in sub-prime mortgage defaults has ignited heavy selling of some mortgage-linked securities, according to Dow Jones Newswires. The two firms also issued a report about heavy selling of home-equity collateralized debt obligations. And, Credit Suisse, a Switzerland-based financial services firm, is now reviewing for possible downgrade 24 asset-backed securities that were created from sub-prime home-equity deals in 2006, according to Rod Dubitsky, a fixed-income analyst at Credit Suisse.

Achmea Hypotheekbank is launching its first covered bond program, and only the second covered bond to date out of the Netherlands.

Egg Banking is believed to be in the latter stages of preparing an issue of deeply subordinated bonds to prop up its ailing credit card-backed securitization Pillar master trust, according to market sources.

Hypo Real Estate Bank International has launched a synthetic securitization of U.K. commercial mortgage-backed securities.

China's four bad loan asset management companies are railing against the dying of their light. Having reportedly discharged their duty to dispose of Rmb1.4 trillion in bad debts, they are eager to branch out into broking and even investment banking. But their suitability for such tasks is in doubt and raises questions about the role of the state behind them. Chris Wright reports.

The dramatic takeover of Patrick Corp. and the third sale of Telstra shares catch the eye in ASIAMONEY's Australia deals of the year.

The world's biggest IPO offering, a revolutionary demerger of India's Reliance Group, the first securitisation in ex-Japan Asia to pierce the US$1 billion barrier and Thailand's first international convertible bond offering since the Asian financial crisis. ASIAMONEY presents the standout transactions of last year.

Chen Xuefei, a Beijing-based ballet teacher and part-time hairdresser, is worried about her only son, Ringo. Against her advice, he has plowed a wedge of his university tuition cash into Shanghai-listed mining stocks.

Mortgage specialist HDFC is superbly efficient, with a cost income ratio among the lowest in the world and no track record of bad debts. It also boasts extraordinary growth figures which appear unlikely to slow anytime soon.

Despite its small population, Australia is regarded as the hedge fund capital of Asia. Its appealing lifestyle and ready access to good people and ideas may help to explain this capital conundrum. But concern remains over the funds' proliferation and their affect on short-term market trends. Giles Parkinson picks his way through the prominent issues.

With Asia's financial industry on the rise, the need to locate and hire quality staff has never been more pressing. Headhunters can make a mint if they wow the banks, hedge funds and investment houses with their market knowledge and platform. ASIAMONEY's Headhunters Poll reveals which recruiters impress the most.