Four hundred and eighty-four products worth a combined MXN19.74 billion (US$886m) struck in Mexico during July – a 22.5% increase in sales volume compared to June.
HSBC Bank USA veteran Todd Fruhbeis (pictured) has parted ways with the UK banking group after 15 years. The New York-based wealth management sales for the Americas executive had responsibility for the sales of markets products for retail and high net worth distribution channels in the Americas, since 2005.
Monex and BBVA Bancomer, dominant players in the Mexican structured products market, have suffered landslide sequential plummets in both their issuances and sales during the second quarter of 2020, according to SRP data.
While historically low interest rates sweep the nation, investors are on the hunt for more desirable product alternatives. Brazilian financial services platform XP has stepped in to cater to this growing demand and nurture the shift in risk aversion.
The Mexican structured products market saw 419 new issuances with a combined sales volume of MXN15.9 billion (US$713m) from four different distributors in June.
Some 90 products with an estimated sales volume of BRL921m (US$179m) and from six different issuers had their strike date in the second quarter of 2020 in Brazil.
The S&P500 is once again the highest performing underlying for US structured products with the S&P/TSX 60 Index presiding over the Canadian market.
SRP takes a look at the best-selling structured products in the Americas during the first half of 2020.
SRP analysed the best performing products in the Americas during the first half of 2020 and found that the top investments all featured maturity dates in the months of January and February. As expected, products maturing before the Covid-19 pandemic caused the market crash in March delivered best value to investors before the market entered a period of high volatility and uncertainty.