UOB scores asset management first
(Singapore) - UOB Asset Management will score a first for an Asian asset manager with its mandate for a new US$1.33 billion synthetic collateralised debt obligation (CDO) for Deutsche Bank.
UOB will actively manage a reference portfolio of 148 investment grade names from Asia, Europe and the US. Investors will share in both the upside and downside of UOB's performance.
The deal will be the first publicly offered synthetic CDO to be offered by an Asian manager, and comes after a similar deal between UOB and ING Barings collapsed earlier this year.
The deal will be the first publicly offered synthetic CDO to be offered by an Asian manager, and comes after a similar deal between UOB and ING Barings collapsed earlier this year.
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