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Endowment cuts credit allocation, reports Bloomberg
Tuesday, February 21, 2012
Bloomberg reports that the University of Pennsylvania is reducing its $6.6 billion endowment fund’s investments in credit hedge fund. It cites chief investment officer Kristin Gilbertson as saying that the fund plans to take winnings off the table after the assets have become more fairly valued. The endowment’s credit allocation has fallen from 15% to 10%, she is cited as saying.
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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 |
