Pimco, Capital Group lead expansion of index CDS market
Counterparty Radar: Total positions reach new high driven by growth of swaps referencing CDX NA IG
Capital Group jumped in the rankings for mutual funds trading credit default swap indexes last quarter, but Pimco retained its dominant position in the space.
The California-based fund manager added $4.3 billion notional of positions to its portfolios, while its total CDS index book grew to $14.5 billion, making it the second largest user of these instruments behind Pimco, which was responsible for nearly half of all mutual fund volume.
Capital Group’s market share rose 2.9 percentage
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