Investec grabs most market share in the UK despite credit concerns
Investec tops the UK structured products market in terms of number of issues, despite its weakening credit rating. The issuer and distributor secured a 35% market share on this basis in February, according to figures from Future Value Consultants.
The bank's success contradicts market sentiment on credit risk, which is leading several independent financial adviser (IFA) firms to restrict product panels to issuers with a minimum rating of A, or even AA. Investec's rating was downgraded to Baa3 by
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