After a comparatively feeble showing in the previous year, UBS Warburg is the emerging winner in 2001 RMBS league tables.
UBS is first place in the year-end RMBS manager activity rankings for both agency and non-agency MBS, according to final results from Thomson Financial. The bank's lead comes at a time when industry totals shot up to $523.9 billion from $136.7 billion in 2000.
UBS - which made a huge leap from its No. 6 position for the 2000 rankings - sold $85.6 billion in 2001, grabbing the top slot with a 16.4% market share. This is compared to its 2000 showing, when the firm boasted only $9.89 billion in proceeds and a 7.2% market share.
UBS replaced Credit Suisse First Boston (CSFB), which was first place for the 2000 year-end league tables. CSFB dove from first place to fourth place with only an 11% market share ($57.7 billion in proceeds) for 2001, compared to its 17.5% share (with $23.9 billion in proceeds) for 2000.
Goldman Sachs & Co. and Bears Stearns & Co., Inc. came in second and third, respectively.
Goldman - which also showed its might by jumping to the No. 2 slot last year from its No. 7 position in the year-end 2000 tables - came in with $75.06 billion in proceeds and a 14.3% market share. This is compared to having only a 6.7% market share in 2000, with $9.2 billion in proceeds.
Bear (which is considered a stalwart in the field), on the other hand, dropped a notch to the third spot from being second in 2000. However, it is not that far behind, with $69.07 billion in proceeds and a 13.2% market share.
Meanwhile, Goldman Sachs topped the RMBS manager activity rankings for the fourth quarter 2001. The firm came in No. 1 for the combined agency and non-agency MBS charts, supplying the market with a healthy $41.9 billion in proceeds, which is equivalent to a 23.5% market share.
UBS, which sold $34.9 billion in proceeds and which has a 19.6% market share, landed the second spot for the fourth quarter 2001 league tables.