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12b-1 fee ABS graduated to 144A with Citibank deals

As anticipated, 12b-1 fee ABS have graduated from the traditional private placement market, with last week's closing of the first-ever Rule 144A mutual fund fee securitization from Citibank N.A. Making this jump possible is the integration of equity index put options into a securitization structure, buttressing collateral performance from...

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