The ABS investor has seemingly evolved into a credit-savvy creature wary that structure does not always protect investments. Speaking at Information Management Network's ABS East, the Uncovering Relative Value in the Public Markets panel discussion showed how far institutional money managers have come in recent years.
While United Capital Market's President John Devaney caused a stir in the day's opening general session, institutional investors described a more cautious approach to buying ABS. While there are some short-term opportunities in the ABS market, a buy-and-hold investor must earn his or her return via a hands-on approach and due diligence. This is not a new theme for the buyside, but now it is a mantra.