Edouard Bremond

"CAAM acts as a gatekeeper," says Edouard Bremond, co-head of the European cash CDO group at Calyon.
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Management fees are not disclosed, but Bremond says the fees are comparable to standard CLO fees and are linked to the net asset value of the manager's subportfolio."For the sub-managers it is an attractive deal because it allows them to add funds under management with a lot of flexibility and without the need to do all the marketing and administration of their own CDO," he says.