The New Normal: CLO investing under an evolving regulatory environment
Join SCI and industry experts, in association with Thomson Reuters, on a complimentary one hour webinar to address the current state of the CLO market for investors.
This event took place on 27th March 2014. You are invited to register and download the webinar files.
Discussion points include:
Regulatory update
- Impact of regulatory uncertainty on new issuance volumes and secondary supply
- Risk retention: market update on alternative US CLO retention proposal; application of Article 122a under CRD 2
- Clarification of Volcker Rule and 'ownership interest' definition; impact of European Commission's proprietary trading proposals
- Structural developments to comply with risk retention and prop trading rules
Relative value
- Technicals versus fundamentals, and European versus US collateral as drivers of relative value
- Collateral type: middle market versus broadly syndicated loan CLOs
- Impact of manager style and calls/refinancing/repricings on CLO analysis
- Managing risk in tail portfolios
Panel
Moderator: Corinne Smith, Editor, SCI
Mario Verna, MD, Guggenheim Partners
Ed Wilches, Alternative Investments, Prudential Fixed Income
Matthew Rose, Head of CLO Pricing, Thomson Reuters