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Some bond assets that provided securities lending revenue in 2019

Bond_marketHigh yield debt aided stock lending revenues at Aberdeen Standard Investments last year, according to the firm’s securities lending specialist.

Matthew Chessum, investment director, liquidity management at the company, was speaking about opportunities from securities lending at the Funds Europe securities lending roundtable just before Christmas, where he said: “On the fixed income side, we have had some good exclusive lending activity for high yield debt and for emerging market corporate debt assets that we hold in portfolio.”

He also said ‘specials’ linked to IPO activity, particularly in the US, had played a role in success of the firm’s securities lending portfolio.

Mick Chadwick, director, global head of securities finance at Aviva Investors, also took part in the roundtable. He said asset managers generally saw slightly lower securities lending revenues last year but agreed there had been “selective opportunities linked to IPO activity”.

Read the full securities lending roundtable here.

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