Flash infos Fitch confirms the quality of Natixis Asset Management’s CDO expertise Fitch Ratings has assigned Natixis Asset Management a CAM1-* CDO Asset Manager rating for investment grade corporate CDOs. It is the best rating assigned to a CDO manager in Europe (source: Fitch Ratings on 05/07/2008).
Fitch rates CDO asset managers by asset class, on a scale of 1 to 5, with 1 being the highest rating. The rating scale includes "plus" (+) and "minus" (-) designations to sharpen the analysis. Natixis AM's rating is based on the company's composite score, which is a weighted average of the scores assigned for each category summarised below: • Company and management experience: 1• Staffing: 1• Procedures and controls: 1 • Portfolio management: 1• CDO administration: 1 • Technology: 1 • CDO performance: 2+ The rating is primarily based on Natixis AM's strong IG corporate synthetic CDO franchise built on extensive credit investment experience and supported by dedicated technology resources. Within the Fixed income management Department, the Credit management team led by Hanna Stekelorom manages CDO portfolios within the rating agencies’ framework. Natixis AM launched its first synthetic IG corp CDO in 2002 and this CDO expertise is today promoted by Fitch Ratings. The rating showcases the achievements of the Investment Management and Structuring Analysis Modelling & Solutions teams, supported by the various core teams involved in this activity. It is a testimony to the long-lasting quality of the investment process and the expertise of the teams. This CAM1- rating positions Natixis Asset Management as a world leading management company on the CDO market.
*CAM rating : CDO Asset Manager rating
CDO Management (key figures as of 03/31/2008) • EUR 3.2 bn under management (or a delta equivalent of around €30 bn managed). • A team of 34 specialists including 8 credit portfolio managers and 2 credit portfolio analysts. • 24 Investment Grade CDOs (public and private),”market value” products and leveraged structures. • Over 600 European issuers followed and over 760 corporate credits followed in the United States.
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