Capital Group grows interest rates swaps book by 62%
Counterparty Radar: Aggregate notional of US mutual fund and ETF positions hit $957 billion in Q1
The notional value of interest rate swaps held by Capital Group’s mutual funds jumped 62% to $92 billion in the first quarter of this year, as the asset management giant added receive-fix trades that will benefit from a drop in rates.
The Los Angeles-based firm, which is the third-largest user of the instruments among US retail funds, grew its share of the market by 3.4 percentage points to 10%.
Meanwhile, Pimco, the largest player in the space, grew its book by 6% to $574 billion in Q1. Pimco
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