The European securitisation market is on target to meet 20% year-on-year growth expectations by the end if the year, according to Standard & Poor's (S&P), the ratings agency.

While other fixed income markets have experienced a drop in volumes this year, asset-backed securities (ABS) has gone from strength to strength. Kurt Sampson, managing director at S&P's European structured finance ratings group, said: "Despite the current economic downturn, the market has shown a consistently strong growth pattern. The fourth quarter pipeline remains robust and we believe 20% growth is possible, provided there are no further economic shocks."