Actively managed certificates (AMCs) are becoming popular among small asset managers seeking to build a track record and offer exposure to new assets.
This structured product allows for small size tickets. They remain in the issuer’s balance sheet which is appealing for asset managers especially at times of high volatility. “Investors do not tend to unwind AMCs at times of market distress as they can move their exposure into cash which can be reinvested again if there is a change in market direction,” a senior Swiss banker told SRP. “This creates more of an annuity product also for the issuer by just accruing the
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