Axa IM cancels Volta dividend due to CLO equity cash flow uncertainty
Axa Investment Managers has has cancelled the 28 April dividend payment to investors in its listed credit fund Volta Finance “in light of the ongoing uncertainty caused by the covid-19 pandemic"
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This is a good point. To put that into context, following the 2008 financial crisis, around 50% of all CLOs stopped equity distributions.
So....BofA thinks 80% of CLOs ARE going to pay. Considering what's going on in the world, that's the real headline.
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Comment by: Anonymous. Posted 4 years ago [2020-04-07 15:26:10]