LTP Trade Finance IndexÖ - March 2003 performance update

The LTP Trade Finance IndexÖ returned 0.25% in March, bringing the return for the first quarter of 2003 to 0.93%.

This is significantly above the 0.72% returned in the same period of 2002. On the whole the first 3 months of 2003 have been characterized by steady returns. Volatility appears to have contracted with the range of monthly returns seen so far this year being 0.25% to 0.34%, which starkly contrasts with the 0.12% to 0.66% range seen in the last quarter of 2002. The best performing region has been Latin America, where overall credit margins in the LATAM index...

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