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ABS Investor To Sell More Portuguese RMBS In 2010 March 11, 2010

-- Daniel O’Leary
Asset-backed securities investment firm Queen’s Walk Investment will continue to reduce its Portuguese residential mortgage-backed securities exposure. Shamez Alibhai, London-based partner at Cheyne Capital Management and portfolio manager for Queen’s Walk, intends to sell or re-finance the Magellan Mortgages 1 Portuguese prime RMBS sometime this year. Cash proceeds from the sale would support the strategy of investing in undervalued bonds of distressed RMBS and commercial mortgage-backed securities, he said.
The firm has been liquidating ...

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