CMOs (Collateralized Mortgage Obligations) are one of the fastest growing sectors of the fixed income financial markets. This volume explains how to build and manage a successful CMO portfolio, covering aspects of the CMO market, from product structures and valuation to risk control.

CMOs (Collateralized Mortgage Obligations) are one of the fastest growing sectors of the fixed income financial markets. They present challenges to portfolio managers, and if they are successfully managed a CMO portfolio can produce significant results. However, if they are poorly managed, they can be disastrous. This volume explains how to build and manage a successful CMO portfolio. The book covers aspects of the CMO market, from product structures and valuation to risk control. More importantly, it explains how to achieve the high returns than can be made with CMOs, with taking ordinate risks.