South African structured product provider Absa has topped its total 2011 issuance just half way into this year, with 21 products added to the SRP database.
The provider had 17 issues for all of 2011, compared to a single issue in 2010, six in 2009 and one in 2008.
Head of product and distribution support at Absa Private Bank in Johannesburg, Aileen Campbell, said that products were more simple and transparent compared to the offerings which first surfaced nearly ten years ago, while head of retail distribution at Absa Capital, Ryan Sydow, said that demand for alternatives was skyrocketing, according to reports.
Tie-ups between Absa and Barclays have also allowed greater access to local and international underlyings, with the firm aiming to have at least six core products on offer at any time to cater for client needs.
Absa's principal-protected Bric Optimiser product offers exposure to emerging markets and has reached a third issue while its Protected Diversified Commodity Note has entered its tenth issue, making it the firm's most popular product over the past year.
Campbell noted that low price to earnings ratios in developed markets provided high participation rates while providing full capital protection with no currency risk.