Structured products
WHAT IS THIS? Structured products are investments that have multiple components. For retail investors, the most common form is a bond plus an option – these tend to be standardised, sold in small tickets and large volumes. Managing the risks of large structured products portfolios is one of the biggest challenges dealers face.
US Wrap: US & Asia plays close week
A mix of nine different US and Asian equity plays brought the US market to a close last week. Citi launched two new notes - both a reverse convertible and an accelerated growth note. The latter was linked to the performance of the S&P 500 index, offering…
RBS returns to market with NDFA after Keydata collapse
Royal Bank of Scotland (RBS) is launching back into the intermediary market with its new range of structured products after replacing its now insolvent administrator Keydata with NDFA.
Ex-Keydata consultant opens new firm for business
Gilliat Financial Solutions, a specialist UK structured products distributor founded by ex-Keydata consultant Adrian Neave, has announced it plans to launch two new FTSE-based products in early September.
Structured products preferred by advisers, says Morgan Stanley survey
Structured products have come top of the list of investment products financial advisers would recommend to their clients, according to a new survey by Morgan Stanley. Structured plans leapt two places from the bank's last survey in December 2008,…
Distribution veteran joins Advisors Asset Management in US
Brian Jones has been hired by Advisors Asset Management (AAM), the broker dealer firm, as managing director of retail sales distribution, exiting his position as managing director, head of equity derivatives sales for the Americas at Macquarie Capital…
Rays of hope
Structured products
UK Wrap: Cater Allen lone presence with double digit headline rate
Cater Allen Private Bank was the only issuer with a product in the UK market last week, offering a headline rate of 37% for its FTSE-linked product. The plan comes with two maturity options - either three and three quarter years or five-and-a-half years…
Société Générale launches new listed income product
Société Générale has issued a new listed plan, which guarantees to pay an income higher than a traditional savings account. The FTSE Income Protection 3000, which is listed on the London Stock Exchange, provides investors with a fixed income of £17, or 1…
Gap trade interest could salvage dealer risk recycling channel
Renewed interest in gap risk trades might resurrect the defunct trading channel previously used by structured products issuers as a means to recycle unwanted gap risk, say dealers.
Investec opens latest suite of products to investors
Investec is offering a new set of capital protected FTSE-based plans covering growth and income products, as part of its 10 th collection.
UK Wrap: Risk appetite returns in new plan launches
Risk appetite returned to the UK last week with the launch of a slew of 'at risk' plans. Leading the pack was a asset manager Jubilee, with its Optimised Growth Plan 1, which also gives accelerated growth.
Jubilee plan to optimise growth
Jubilee Financial Products, a UK-based boutique asset manager, launched last week a new growth product, which aims to get the best entry point for investors.
Almost all SIV assets now sold off, Fitch says
The structured investment vehicles (SIVs) at the heart of the credit crisis have now disposed of 95% of their $400 billion in assets, according to analysis released today by credit rating agency Fitch Ratings.
CDS premiums boost option participation in structured products
Participation rates and coupons in structured products are being boosted by premiums from credit default swaps (CDS) sold on sovereign and corporate entities, say dealers.
Editor's letter
This issue marks the fifth anniversary of Structured Products magazine. To commemorate this landmark, we have looked back over every issue since our launch and constructed a timeline featuring some of the most interesting stories and events, as well as…
Nordic horizons
Markets in the Nordic region have been far from immune from the troubles that have hit structured products across Europe. But speakers and delegates at the Structured Products Nordic Region conference spoke of light on the horizon - despite the pressing…
How we got here
Structured Products editor Richard Jory and launch editor Paul Lyon describe the magazine's development from its early days, while Incisive Media managing director Matthew Crabbe explains how and why the magazine came to life
Combining CDSs and equities
Duggan Asset Management is offering exposure to equity and credit markets with its new capital-protected simple growth product. As well as access to an unusual asset class - credit default swaps - participation is linked to the DJ Eurostoxx 50
Five years and six options
Barclays Bank has issued a five-year product that allows investors to choose the level of protection required and achieve a higher participation rate if they opt for a lower level. Each of six versions of the product has an option on the FTSE 100