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EU directive misses the mark

Investors bemoan high hedge fund fees

It has been a glorious first half of the year for global structured finance, with volumes outperforming the plain vanilla universe for the fourth year in a row. The total rocketed up by more than a quarter, to $1.2 trillion from $944.6 billion during the first half of 2004.

But credit tranche activity has held up despite the GMAC fallout

There should be no false patriotism over whether it is appropriate to finance outside the domestic currency

The German bank has nothing to lose

Sooner or later credit tiering will return to a structured credit market that for too long has failed to reflect differentiation in the underlying assets, deals' performance or servicer record. That's the theory anyway. Recent events, though, suggest that spreads and market sentiment remain remarkably resilient to all but the worst news. When non-conforming residential mortgage-backed securities market leader Kensington Group unveiled disappointing performance data and the use of the reserve account on RMS 15 & 16 it had an immediate impact.

Spanish borrowers pay fees shock

Why an acquisition pays rich dividends

Unsecured debt markets are still open for GMAC and Ford

Online information provider is proving to be a big hit

Banks seek more tools to serve growing asset management clientbase on FXall