This book provides a practitioner-oriented guide to the key legal and structuring issues that arise in innovative securitisation transactions, under Anglo-Australian law. The transactions on which the book focuses are (i) the securitisation of non-traditional assets and (ii) the disaggregation...

This book is concerned with the corporate governance aspects of managed investment funds, in particular the role and legal obligations of institutional investors in corporate governance and the legal duty of prudence imposed on fund managers and other market participants that have been entrusted...

SRI investments in Australia now exceed AUD1.9 billion. A number of high profile superannuation funds have recently embraced SRI strategies, and strong growth is forecast. This momentum, however, has not been matched with a robust legal framework for appraising SRI strategies.The Report...

Transporting the alpha generated from an active strategy to an index-tracking fund is gaining global acceptance. It is a concept that challenges the conventional notion that the bulk of portfolio returns are derived fom asset allocation.In this article published by the Securities Institute of...

Credit derivatives have, to date, mainly been used to disaggregate and lay-off the static credit risk on loan portfolios (including residential mortgage loans, commercial loans, car loans, credit card receivables, and margin lending receivables), and manage syndication and subparticipation...

This article discusses an innovative enhanced indexing strategy known as quot;portable alphaquot;. A portable alpha strategy, in essence, involves overlaying the return from an external fund or internal strategy that has consistently generated alpha with a derivatives-created index exposure. A...

This article discusses the use by banks of synthetic CLOs (Collateralised Loan Obligations) to manage the credit risk on their loan portfolios and free up the risk capital allocated to such portfolios.The article compares synthetic CLOs with conventional CLOs (in essence, a synthetic CLO...

Institutional investors and traders are beginning to view volatility as a distinct asset class, capable of being invested in and traded in the same manner as other asset classes. This article provides an overview of the use of options to trade volatility (on their own, or embedded in securities...

The quot;passportquot; or quot;perfect traderquot; option is a new derivative instrument which enables investment managers and other fiduciaries to renounce the losses that might be incurred on investment portfolios. This article provides an overview of the different types of passport options...

Weather derivatives are a new risk management tool that enables companies to manage weather-related declines in the demand for the products or services supplied by those companies.This article provides an overview of exchange-traded weather derivatives and the application of securitisation...