RE: (No Subject) — Unsealed Email

R

can you please look into a basket of preferred stocks (probably via a structured note) that we can lever 2-3x in a margin account thank you

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DB-SDNY-0067038
SDNY_GM_00213222
EFTA01373047

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To

Vahe StepanianStewart Oldfield

Did u get this? Stew maybe this topic is a perfect entree for ISG?

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To

Joseph DursiAndrew King

Cc

Daniel SabbaVahe StepanianBrianna Fowler

Classification: For Internal use only

Have you guys looked at preferreds?

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To

Stewart OldfieldJoseph Dursi

Cc

Daniel SabbaVahe StepanianBrianna Fowler

Classification: For Internal use only

Spectrum might be a good fit here. Spectrum is a preferred equity SMA manager on the Adviser Select platform. They have over 29 years of experience investing in issues that offer high quality, attractive risk adjusted yield premiums, and have historically outperformed their benchmark by 80 bps net of fees. I've listed some key stats below and have attached the factsheet.

I'll reach out to lending to see what type of UN we can offer on the portfolio.

5 year sharpe: 1.4

5 year std dev.: 5.26%
5 year return: 7.5% per annum

Average Credit Quality: BB
Modified Duration: 3.14
YTM: 5.43%