When I receive offers to attend a fund manager's press conference on its latest line of guaranteed mutual funds, my first reaction is say, Surely I have a dental appointment at that time. Although guaranteed funds continue to be a huge trend, and the only one really making money for asset managers, actually sitting through the slide presentation gets dull after you've heard the umpteenth version of market spin.
So I was happily surprised to find yesterday's chat with SG rather interesting. Nicolas Reille, SG Securities senior vice president for structured products in Asia ex-Japan, led me through the ups and downs of a new derivatives product called Swing, which has been dressed up in...
