BMR grows bought single-name CDS book as market slumps
Counterparty Radar: US retail funds cut $1.5 billion in sold swap positions over the quarter
Boston Management and Research grew its book of single-name credit default swaps (CDSs) the most in the fourth quarter of 2022 among US mutual funds and exchange-traded funds, bucking the trend that saw the broader market contract.
The sector shed $1.4 billion in notional, mostly from sold protection positions, with its aggregate dropping down to $30.6 billion, according to data from US Securities and Exchange Commission filings collected and analysed by Risk.net’s Counterparty Radar service.
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