Buy in gloom: ING

by Rob Hosking

CDOs have been at the heart of the US sub-prime mortgage market collapse.

ING's head of distribution Wayne Becker told advisers at its recent roadshow in Wellington that there is no leveraging in the company's CDO products.

"We have excellent liquidity...yes there are some CDOs, but we have no downgrades or defaults."

ING's head of fixed interest Andrew Michl said now is a good time to get into the fixed interest market.

"The good news for investors is there's only going to be the best quality out there."

In the current market mood of near-panic, with the need many people have to cash up, there are plenty of good opportunities, he says.

"What people often have to sell is their good quality assets, because they are all the market will buy.

"The opportunity has never been better to buy into the credit market. There are some wonderful buying opportunities for those with money."

Rob Hosking is a Wellington-based freelance writer specialising in political, economic and IT related issues.

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