Announcement: Talk with Prof. Suresh Sundaresan, Columbia University Date: 24.06.2002 Time: 04:30 pm Location: Bank Gutmann AG, Schwarzenbergplatz 16, 1010 Wien, Mezzanin Title of the talk: Default Risk and Portfolio Management Abstract: Due to the decreasing size of government debt markets and increase in securitized debt products, credit-risky asset classes have become an increasingly important part of the fixed income portfolio management industry. Asset classes such as collateralized debt obligations, corporate debt, asset-backed securities confront portfolio managers with arguably better expected returns but also expose investors to higher credit and liquidity risk exposures. The seminar will explore the development of these markets, new opportunities and risks that they present. In addition, we will review the current thinking about measuring and managing credit and liquidity risks in different asset classes. Institutional developments such as collateralization, marking to market, trigger covenants will be presented. Conceptual risk measurement techniques and rating procedures will also be outlined