Issuance of emerging markets CDOs remains steady even in the face of economic stress. Market analysts expect that the asset class will maintain its position, perhaps garnering more interest, as managers and investor's grow savvier on the CDO structure.

"These deals have been around for a long time, they are small but stable," said Henry Albulescu an analyst at Standard & Poor's. "It's hard to see who the investors are but more and more people are interested in the asset class."

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