Homes, automobiles, credit cards and most consumer and business activities are financed in the asset backed securities (ABS) market.

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So it's recently moved into asset-backed securities, launching the CQS ABS fund.

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John Bella, managing director in ABS at Fitch Ratings, said net losses on auto asset-backed securities have fallen steadily since the crisis four years ago, and the deals are now backed by stronger collateral, or loans made to so-called prime borrowers.

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