Resource Centre
Understand how an investment product gets launched.
Short, factual explanations. No legal detour: how each building block works, and why it matters.
01
Understanding the structure
Comparto vs AMC
An AMC is a product line issued by a bank, shared with other strategies. A Comparto is a dedicated Comparto, with its own ISIN and full asset segregation. The difference shows up most in custody and investor reporting.
Read AvailableComparto vs SPV
Why a dedicated Comparto beats setting up a special-purpose company for every transaction.
Read AvailableComparto vs investment fund
Timelines, cost, governance and operational load: what separates a Comparto from a traditional fund.
Read02
Legal concepts
What is bankruptcy remoteness?
Bankruptcy remoteness means the assets in a Comparto are isolated from the fate of the originator and of every other Comparto. Investors have recourse to the assets allocated to their Comparto, and only to those. This legal isolation is what makes the structure financeable for a professional investor.
Read AvailableWhat does off-balance-sheet mean?
What it means to house an exposure in a Comparto rather than on the originator's own accounts.
Read AvailableWhat a bank checks before subscribing
Documentation, ISIN, agents, custody, reporting: a custodian's operational checklist.
Read03
Operations & mechanics
How to raise capital via a Comparto
From structuring to subscription: the path of a raise through security issuance.
Read AvailableHow coupon payments work
The role of the Paying Agent and Calculation Agent in servicing the security.
Read AvailableHow investors subscribe
The path of a subscription, from the order placed with the custodian bank.
Read AvailableHow settlement works
Euroclear, Clearstream and the settlement mechanics of an ISIN-listed security.
Read AvailableHow an ISIN is created
Who assigns an ISIN, on what basis, and how long it takes.
ReadNext step
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