European CLO manager reports decline in fee income

By Mike Peterson

Tuesday, November 24, 2009

A London-based credit manager disclosed that it has lost significant fee income from its CLOs, but has gained from the launch of new funds

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Comment by: Alex Veroude. Posted 14 years ago [2009-11-25 12:41:17]

Cynical view on that: That's because CLO managers have a vested interest in not declaring defaults, to not breach triggers and keep their fees for a few periods more...

Comment by: Anonymous. Posted 14 years ago [2009-11-24 14:22:57]

Amazing how the median CLO default rate is 4.5% vs market of over 13%. I never realised CLO managers were so good at consistently outperforming the market

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