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CLO and CSO valuation rise boosts Axa's structured credit fund

Monday, March 14, 2011

Axa’s closed-end structured credit fund Volta Finance marked up its CLO equity positions by a further 9.6% in February, helping to boost the fund’s NAV by 5.9%. The listed vehicle also recorded a 4.7% rise in the value of its CLO mezzanine positions. Besides CLOs, the fund also owns some asset-backed securities, and invests in corporate synthetic CDOs managed by Axa. These CSO positions also rose strongly, by 9.3% last month.


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CFlux secondary 
CLO index levels:

Index
21 May
CFlux USD AAA  ↑ 96.2
CFlux USD AA  ↑

88.3
CFlux USD A  ↓ 84.1
CFlux USD BBB  ↓ 75.3
CFlux USD BB  ↓

74.1
CFlux USD EQ  ↑ 77.5

 

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