PGIM prepares listed credit fund
PGIM is marketing a ‘flexible’ listed fund, dubbed PGIM Strategic Credit Fund , to invest at least 80% across fixed income

US lags as credit explores three-month tights
Credit markets in Europe and Asia have begun June on a rally to their tightest levels in nearly three months, with optimism over reopening economies outweighing concern about US/China trade negotiations. But US credit looks set for a more cautious opening, after a weekend of widespread protests and rioting

Fund performance: CLO tranches move up
April returns managed a partial bounce back after a tumultuous March. 82% of funds listed in the Creditflux database made positive returns, showing at least small signs of recovery after 90% of all funds listed posted negative returns in March

Volatility trading has room to run, say strategists, as market holds firm after rally
Big intraday swings have abated from the credit market, but spreads are finely poised in their mid-range positioning between the March peaks of the crisis and pre-crisis levels. According to strategists, this leaves plenty to play for in volatility trading

EnTrust aims to onboard $1 billion for maritime direct lending fund by June
EnTrust Global is targeting $1 billion for a maritime direct lending fund, Blue Ocean Onshore Fund, and anticipates a final close in June

Asian PE firm launches structured credit unit with three ex-Carlyle officials
CDIB Capital, a Hong Kong-headquartered private equity firm, has launched a new structured credit group and poached a team of three former Carlyle Group officials to lead the charge

Two managers beat 70 for £900 million emerging market bond mandate
LGPS Central has selected two external managers for its £900 million Global Active Emerging Market Bond Fund

Credit hedge fund returns: March 2020 stats
Monthly performance across credit hedge funds

Fund performance: Index tranche investors make it work from home
March brought a drastic drop in return figures as covid-19 swept across the globe, as Orchard tops the Creditflux performance tables

Credit funds at a glance (May 2020)
A round-up of fundraising and people moves

Florida pension allocates $600 million to three credit managers
Florida State Board of Administration has awarded $600 million to three credit managers in the first quarter, according to a board update seen by Creditflux

European credit converges further with US after White House stokes coronavirus dispute
The mood hangs heavy in credit markets as the week begins, with the US having ramped up its war of words with China over the origin of coronavirus and much of Europe returning from 1 May holidays to catch up on Friday's move wider

Airlines and banks lead way as credit rallies on aid measures
Airlines are getting the best of a positive start to the week, with hopes of financial assistance growing for European carriers and spreads generally pushing tighter after the Bank of Japan unveiled new stimulus measures

US/Europe relative value in play as oil prices stabilise
Tightening European credit indices today have added to the relative value trading opportunity with US counterparts ahead of that market's open

Market sell-off gathers pace as oil rout spills over into credit
Credit spreads are pushing wider across the board today, along with slumping stocks, after a crash in oil prices took WTI futures below zero for the first time

Frontier CDS auction to follow Lebanon and Whiting Petroleum
An auction to settle CDS referencing Frontier Communications will take place next month

Asian direct lender promotes marketing official to CIO as co-founder takes new role
Adamas Asset Management has promoted its head of global marketing and investor relations, Brock Silvers, to chief investment officer

Credit Rendezvous: recovery begins, but is it U, V or even W?
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out

Credit pulled in different directions as coronavirus relief opens political divisions
A cautious tone surrounds the return of European credit trading after the long weekend - and the Fed-package furore that ended last week. Today's lack of European credit direction comes despite big rallies in Asia, better stock markets and an EU agreement on Friday for €500 billion in stimulus measures

Lebanon CDS auction set to include 15 cent bonds
The cheapest bonds to deliver into a credit event auction to settle Lebanese sovereign CDS could be worth only 15 cents in the dollar, according to a 27-note initial list published by the Determinations Committee

US credit leads surge tighter on Fed package to close gap with Europe
What was already a much more positive week for credit has ended with a massive jump-start, as the US Federal Reserve unveiled a $2.3 trillion relief package targeting small businesses and municipalities but with additional support for bigger companies, including 'fallen angel' household names

Europe/US credit gap extends as coronavirus curves part ways
The gap between European and US credit performance is widening as hopes rise in Europe the spread of the coronavirus could be slowing even as its impact extends in the US

Creditflux unveils newsletter platform
Creditflux is today unveiling an online newsletter platform, which recreates our print magazine in a digital, user-friendly format.

Financials lag as credit rallies on Chinese manufacturing pick up
Credit market improvement has continued this morning on signs of Chinese economic recovery, after the rally in spreads resumed yesterday afternoon in Europe and throughout most of the US session

CDX HY and EM trade with fresh legs after defaulted names drop out
New series of US high yield index CDX HY and emerging market index CDX EM begin their first full day of trading today, having replaced outgoing versions on Friday amid a weakening of credit markets due to the spreading impact of the coronavirus outbreak