TY - JOUR T1 - The Framework for Seeking Alpha in the Global Securitization Market JF - The Journal of Structured Finance DO - 10.3905/jsf.2019.1.075 SP - jsf.2019.1.075 AU - Tracy Chen Y1 - 2019/06/25 UR - https://pm-research.com/content/early/2019/06/25/jsf.2019.1.075.abstract N2 - A decade has passed since the global financial crisis. The securitization market gradually recovered not only in the US, but globally. The securitization market is becoming more international, with explosive growth in the Chinese ABS market, which competes with the more established securitization markets in the US, Europe, and Australia for capital. The worldwide securitization market offers tremendous alpha generating opportunities for investors. In order to achieve the highest total return through optimal portfolio positioning, global bond investors need to compare and evaluate the relative value of investment opportunities constantly in those markets. In making their investment decisions, investors are recommended to follow a dynamic framework centered around a four-pillar analysis of asset fundamentals, valuation anomalies, market technical, and macro catalysts. This article illustrates how investors can identify values in these markets by applying this dynamic framework in three case studies of attractive opportunities in Spain, the US, and China.TOPICS: Asset-backed securities (ABS), emerging markets, portfolio management/multi-asset allocation, performance measurement ER -