Retail on the rise down under
Retail investors are playing an increasingly important role in the Australian structured credit market, with a flurry of products launched in the past few months. Nick Sawyer reports
Australia’s retail structured credit market is back on its feet following the default of Italian dairy company Parmalat at the end of 2003. The past few months have seen a flurry of synthetic collateralised debt obligations (CDOs) aimed at retail investors in Australia, with three deals launched within days of each other in early November. And despite tightening spreads, which has seen the credit default swaps (CDS) markets come close to touching all-time lows, analysts reckon there will be an
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