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PGIM’s rise to top of credit options lifts Barclays, Morgan Stanley
Counterparty Radar: Insurer’s AM arm doubled its market share in Q4 2021 as bought protection swells
![Credit-options Credit-options](/sites/default/files/styles/landscape_750_463/public/2022-05/Credit-options.jpg.webp?itok=A0VeRjYR)
PGIM rose to the top spot of US mutual funds using credit default options in the fourth quarter of 2021, adding $22.4 billion to its total positions and almost doubling its market share – to 58% from 32% in Q3.
Increased activity at Prudential’s asset management subsidiary was a boon for Barclays, which saw its book grow by $9.8 billion, remaining the top dealer in the space. PGIM also lifted Morgan Stanley to second place from fourth, conducting $10.3 billion worth of trades with the bank.
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