If half-year numbers are any indication, the ABS market is on its way to another record-breaking year, with $520 billion priced so far, versus $394 billion priced last year at this time, according to preliminary data maintained by Thomson Financial. All the market has to do is hold its sizzling pace to reach the $1 trillion mark for the first time and best last year's $858 mark, a number many predicted was unreachable two years in a row. In the thick of the hottest year in ABS history, the manager landscape has shifted slightly, but Citigroup Global Markets refuses to be knocked out of the top slot.
Citigroup managed the largest dollar share of the ABS pie with more than $49 billion at half-year and a 9.5% market share. Last year at this time, Citigroup managed $37 billion as it held on to first place in the league tables to finish the year with $82 billion. If Citigroup can hold on to finish the year in first place, it will be the third year in a row the bank has managed the largest dollar share of the market, beginning its run in 2003.