Audio Transcript

Today I want to speak about the impact of ESG on the structured product markets. There are going to be two huge waves driving the structured product market. The first one is the fact that interest rates in the U S, Europe and Japan are zero now and are likely to be very low for an extended period of time.

That puts enormous pressure on the ability to extract interest and income from traditional asset classes. And we do believe that the second wave driven by impact investing and ESG offers tremendous opportunities for investors in structured products. We see very big opportunities in the private credit space lending to corporates and banks and projects and funds in emerging markets. We have done that for a very long period of time, and we now see a significant influx in solar projects, wind projects, healthcare, the educational sector in emerging markets.

It is a fantastic opportunity. We see in addition to meeting impact and ESG criteria, significant opportunities for extracting income from this asset class. And we believe it will grow significantly over the next 10 years. Thank you.