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These excerpts taken from the WEN 10-K filed Mar 14, 2008. Business
Segments
The Company
operates within two business segments:
Principal
Investing — The Company invests in a portfolio comprised primarily of
fixed income investments, including residential mortgage-backed securities
(“RMBS”) and corporate debt. Income is generated primarily from the net spread,
or difference, between the interest income the Company earns on its investment
portfolio and the cost of its borrowings net of hedging derivatives, and the
recognized gains and losses on the Company’s investment portfolio.
Investment
Management — The Company serves the needs of client investors by managing
assets within a variety of investment vehicles including investment funds,
structured vehicles and separately managed accounts. The Company specializes in
government securities, corporate debt, mortgage-backed securities, commercial
real estate and asset-backed securities. The Company utilizes a variety of
strategies including fundamental credit analysis, duration management, yield
curve arbitrage and basis spread techniques in managing a broad range of
financial debt instruments on behalf of its clients.
Business Segments The Company operates within two business segments: Principal Investing — The Company invests in a portfolio comprised primarily of fixed income investments, including residential mortgage-backed securities (“RMBS”) and corporate debt. Income is generated primarily from the net spread, or difference, between the interest income the Company earns on its investment portfolio and the cost of its borrowings net of hedging derivatives, and the recognized gains and losses on the Company’s investment portfolio. Investment Management — The Company serves the needs of client investors by managing assets within a variety of investment vehicles including investment funds, structured vehicles and separately managed accounts. The Company specializes in government securities, corporate debt, mortgage-backed securities, commercial real estate and asset-backed securities. The Company utilizes a variety of strategies including fundamental credit analysis, duration management, yield curve arbitrage and basis spread techniques in managing a broad range of financial debt instruments on behalf of its clients. | EXCERPTS ON THIS PAGE:
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