Although covered bonds have been in existence for centuries, the issuance has grown considerably since the mid 1990s. In the middle of 2007, the outstanding amount of covered bonds was at least 1.7 trillion Euros. In the post credit crisis, US Treasury Secretary Henry Paulson issued the Treasury’s plan to promote covered bonds. This has spearheaded a new era of mortgage financing with the United States, the world’s largest mortgage market leading the world in the use of Covered Bonds.
Recently, countries outside of US and Europe kick started its covered bond programme including New Zealand and Korea. Asian regulators in Singapore and Hong Kong have also stepped up efforts in promoting Covered Bonds.
Covered Bonds have been touted as the market’s answer to the post credit crisis. For the investor, Covered Bonds are an attractive asset class offering high credit quality, attractive yields, diversification and protection against event risk. For the issuer, Covered Bonds attract higher credit ratings, lower the cost of funding and diversify refinancing sources.
After a 4 year absence since the credit crisis, Asia’s greatest event for the fixed income and securitisation industry returns with much anticipation from Asian market players – to bring back the much needed roar and optimism in Asia’s financial markets.
Thu, 30/07/2015 - 11:00
Cybersecurity is no longer simply an IT issue, it is now a business issue. This is the conclusion of the experts and fund managers around the world whose opinions were polled for this landmark Hedgeweek Special Report, which outlines Best Practices for Cybersecurity in a fast-changing environment where managers need to keep several steps ahead of cyber criminals... »
Wed, 22/07/2015 - 19:52
The introduction of the Alternative Investment Fund Managers Directive (AIFMD) into European law in 2013 was part of a series of moves towards greater regulatory oversight of the hedge fund industry in recent years. In our survey, we asked hedge fund managers for their views on the effect of these new regulations on the industry as well as their expectations about the impact of the AIFMD on their firm over the next 12 months, the results of which are analyzed in this extract from the Preqin Special Report: AIFMD in the Hedge Fund Industry – 2015 Update. ... »
Thu, 02/07/2015 - 15:51
A couple of years ago, the title Chief Information Security Officer, or CISO for short, was a foreign concept within the hedge fund community. The winds have changed, however, as hedge funds become increasingly targeted by cyber hackers, causing many to hire a CISO to uphold the network integrity of the firm. ... »
Mon, 29/06/2015 - 12:48
Sovereign wealth funds, though small in number and secretive in nature, wield considerable influence as investors as a result of their sizeable assets under management. This extract is taken from Preqin’s latest report which features exclusive content from the 2015 Preqin Sovereign Wealth Fund Review. ... »
Tue, 16/06/2015 - 09:57
Mergers and acquisitions in recent years have changed the face of hedge fund administration. Big custodial banks are likely to dominate the HFA space in years to come, forming one part of a barbell with a number of well-run, well-capitalised independent HFAs on the other end. This report examines the implications for both hedge funds and their administrators... »