Morgan West Group looks further afield
Market turmoil has led to a decline in structured product volumes in South Africa and investors have turned to vanilla products featuring capital protection. Magda Ali speaks to Thomas Breslin at Morgan West Group, one of the first providers to introduce capital guarantees to the South African market
In 2001, market turbulence had left a lasting dent on the South African rand. Many investors who had built their portfolios around US and European equity structures hoped they would benefit from the swift depreciation in their home currency, but most were left nursing losses after they discovered that the zero-coupon element was denominated in rand. Coupled with a collapse in global equity markets, this put people off complex products and the structured products market came to be viewed with
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