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[sharechat] securisation + AIA

From: "" <>
Date: Tue, 12 Mar 2002 00:13:22 -0500 (EST)

bloody hell how do you "realistic" around the airport.

it is made up of three assets - a regulated pad (which is beginning paid forward as prices just got reset and will not be reset for five years), a very good shopping mall with a captive customers - but one which the airlines work to minimise the time the customers spend there, a carpark and a land bank. Admittedly goulter has done a fine job with the landbank - much better than xpected - but these prices are very ritzy.

securisation - get the cashflow off a bunch of assets, say mortgages, student loans, HP, car loans) - bundle them together, reduce the credit risk thru divestification, and then sell the bundle as a single instument.

I suggest you read frank fabozzi - bond markets, analysis and strategies. There are whole chapters on asset backed securities, incl mortgage backed securities, and different bundles that can be put together ie strips, principal only - you will need to understand the basics (duration, convexity, bootstrapping, principal only, interest onlyetc) but I suspect your prof will be looking for the a discussion embedded options within these instruments - such as prepayment risk and how to structure or bundle the different cashflow compounent into seperate insruments to reflect different risk profiles and how to value them (static cash, option-adjusted spread and monte carlo)

have fun

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