Asian investors began to look further afield this year, and BNP Paribas has reaped the rewards of its reputation in European equities twinned with its well-established structured products platform in Asia. Leveraging on products already popular with European clients, BNP Paribas offered them more widely in Asia and enjoyed consequent success.
Asia witnessed a remarkable surge in appetite for Europe equity-linked structured products at the beginning of the year, predominantly with real estate, banking and insurance as underlyings. “While US and Asian underlyings have traditionally been the popular underlyings in Asia, we have seen an unprecedented interest in European underlyings since early 2014 and for this year,” says Krisztina Anspach, BNP Paribas’s managing director, head of structured equity sales, Asia ex-Japan.
While many saw European equities as a popular product for 2014, after an initially encouraging start to the year, equities faltered over geopolitical issues in the Ukraine, sanctions against Russia, and more recently sluggish and even negative growth in the Eurozone, especially in Germany. BNP Paribas, however, maintained momentum from its excellent year start, and it is this ability to innovate that has contributed to its success despite adverse market conditions.
It is clear that BNP Paribas considers European equities to be its bread and butter. A new approach focussing on proactive product speed to market, twinned with a strong track record in the underlying markets has managed to raise the profile of European equities in Asia, as well as distinguish itself as winner of the 2014 award for Best Provider of Europe Equity-linked Structured Products.