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Wait is over: submissions open for Creditflux's 12th annual Manager Awards

Tuesday, January 21, 2020

Creditflux’s 12^th annual awards have opened, with 14 February the deadline for submissions.

CLO managers, direct lenders and fund managers are encouraged to submit their deals for consideration. Our methodology, which is entirely data-driven, will select the very best from across the structured credit universe.

The top four finalists for each category will be revealed in the April issue of the Creditflux magazine. Ultimate winners will be unveiled at our annual awards evening at the Landmark Hotel in London Marylebone on 29 April, following the CLO Symposium.

To celebrate the continuing growth and innovation of the CLO market over the last few years, we have added two new categories recognising unique structures; best “bond-flex CLO” and best “triple C-flex CLO”. These new structures afford managers flexibility, but this also affects their liability pricing. Therefore, we will consider them separately, on their own merits.

In addition, we will of course look for the best of US broadly-syndicated loan, mid-market and European CLOs. An outline of the methodology we will be using can be found below. In order to be eligible, all CLO managers need to do is make sure their trustee reports are available on CLO-i, and to fill in the submission form.

Credit fund managers which predominantly invest (over 50%) in CLOs and list their fund in our credit hedge fund database are eligible for the awards – to list please send this submission form to robin.armitage@acuris.com.

Direct lenders who are interested in submitting should send this submission form to the same address. Direct Lending submissions will be open until 6 March due to the delay in performance publication for these funds.

All other queries and submission forms should be directed to sam.robinson@acuris.com

Methodology

The best US CLO and best European CLO categories will be judged on six different metrics, all taken from the trustee reports, outlined below;

• Change in junior over collateralisation test’s bumper, the difference between the threshold and the result, from the deal’s first report to December 2019.
• The deal’s weighted average price, taken from the loan holdings and marks provided in the December 2019 trustee report.
• Weighted average spread as of December 2019.
• A combined metric of weighted average rating factor and triple C bucket as of December 2019.
• An average of the deal’s annualised returns on its distributions to equity over the deal’s life time.
• The standard deviation of these payments, excluding the deal’s first payment, to calculate the volatility of the deal’s payment history.

We are also looking at middle market CLOs, where weighted average price will not be considered due to the nature of those deals' holdings. For redeemed CLOs, we will purely look at the deals’ final IRR figure. For the manager awards we will look at average rankings, using the metrics above, for all a manager’s active deals. ‘Boutique’ managers are considered to be those with four or less active deals in the US, or three or less active deals in Europe.

Submissions forms

CLO Manager submission form

Direct Lending submission form

Closed-end CLO submission form

Hedge fund submission form

 

Award categories
Best new US CLO
Best new European CLO
Best US CLO
Best European CLO
Best US boutique CLO manager
Best European boutique CLO manager
Best European CLO redeemed in 2019
Best US CLO redeemed in 2019
Best middle-market CLO
Best new middle-market CLO
Best bond-flex CLO
Best triple-C flex CLO
Best European direct lending fund
Best US direct lending Fund
Best closed-end CLO fund
Best CLO fund
Best US CLO manager
Best European CLO manager
Creditflux manager of the year

 

 

 

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TAGS: Direct lending Europe Structured credit CLO Performance North America Creditflux awards