Services


Portfolio Management:

This combines all services into one product. We offer portfolio management in the construction of CLO portfolios from AAA to equity. Our fees are scaled taking complexity, size and number of positions into account. For investment grade rated tranches (without combo notes) our fees are competitive and need not to be adjusted in case of tightening spreads. To invest successfully in sub-investment grade tranches or in the unrated equity tranche a higher effort is required to analyse the Alpha components. This is mirrored by higher fees.


Monitoring

Given that we have a sufficient data base or being supplied with a complete data set we are able to monitor cash flows, report cash flows, identify and correct wrong payments as well as giving a cash flow projection. The reporting is available in frequencies chosen by the client (daily, weekly, monthly, quarterly and semi-annually). This service is offered at a fixed fee per position.


Evaluation

We are able to value CLO positions. We value mark-to-market or mark-to-model (here are various possibilities and have to be discussed with your auditor). This service we are offering at a fixed fee per position.


Monitoring and Evaluation

Both services combined also at a fixed price per position depended on time spent.


Portfolio Liquidation

We also offer this service at a fixed price subject to not managing the portfolio but just advising on the sale. If we should be actively involved, we would charge a transaction fee per sold position.


Take-over of a Portfolio

Subject to complexity (monitoring and valuation - only mark-to-market) we will charge for the portion of the old portfolio a flat fee, transactions with a transaction fee and if we are mandated to continue building the portfolio a portfolio management fee for this part of the portfolio will be charged.


Securitization

We've established a securitization company in Luxembourg which can issue securities on an underlying portfolio or build a portfolio with multiple issuance. The securities may be designed individually as long as they satisfy current law. Each issue out of this securitization vehicle is "ring fenced" ie independent and not liable for other issues of the company. Auditors are Ernst & Young Luxembourg.