Manager alpha

Manager alpha

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Rising defaults to kick-start CDO manager tiering

As the level of defaults continues to rise, the viability of CDO managers and their ability to outperform losses will be increasingly questioned. Over the coming months, manager alpha is expected to remain under intense scrutiny – thereby kick-starting the long-expected process of manager tiering (SCI passim).

"CDO managers will begin to differentiate themselves by the quality of their credit portfolios and their ability to raise new money from investors," confirms one fund manager.

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