Securitization

Los titulares negativos en torno al crédito privado se han intensificado este año, a medida que el sell-off en activos de software y la «restricción de reembolsos» en varios fondos minoristas han acrecentado la presión sobre el sector.

Collateralised loan obligations, or CLOs, have become an increasingly popular asset class within global fixed income.

Aza Teeuwen (Partner, Co-Head of ABS) and Elena Rinaldi (Portfolio Management) hosted a webinar on Wednesday 9 July 2025, where they shared insights into recent trends in global CLOs.

En un entorno macroeconómico de tipos en descenso y un sólido crecimiento mundial, Eoin Walsh de TwentyFour Asset Management sostiene que los inversores en renta fija pueden esperar una buena rentabilidad total en 2025.

Después de un 2022 horrible para los mercados financieros, la perspectiva macroeconómica para 2023 reunió muchas opiniones de consenso que pronosticaron, en su mayoría, un año mejor gracias a los alentadores recortes de tipos por parte de los bancos centrales y a las rentabilidades positivas tanto de los bonos soberanos como del crédito.

While European ABS was not immune to negative returns amid the considerable fixed income headwinds of 2022, it gave investors largely what they look to this allocation for – lower volatility and better performance than mainstream bonds. In our view, the forward-looking opportunity looks equally compelling.

We can debate whether the European Central Bank is behind the curve or not, but Christine Lagarde says rates will be in non-negative territory by September.

As we enter the New Year, we say goodbye to an old “friend” that has accompanied us (for better and for worse) since the inception of the UK ABS market in the late 1980s – Sterling LIBOR.

With a student housing CMBS deal recently brought to market, Kevin Law evaluates the sector’s outlook in the aftermath of COVID-19

BWIC – or bids wanted in competition – lists, are a unique characteristic of the ABS and CLO markets, where they are widely used in secondary trading when investors are looking to sell bonds.

Last week, Morgan Stanley successfully brought the first public German Multifamily CMBS deal (HAUS - Eloc 39) to market since 2013. Despite coming to the market in the middle of the summer, the deal has attracted strong demand across the capital stack.

We can model all kinds of credit risk as long as there is enough protection in the structure for investors to get comfortable with a degree of residual value risk.