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It's all relative: CDX HY touches record tights but junior US CLO tranches leak wider
2 years ago
Credit spreads are marching tighter, but someone forgot to tell the CLO market. European and US CDS spreads have moved in step with each other for the most part with investment grade and high yield tightening 4-6% in the last week, whereas CLOs have been losing ground -
Fund performance: CLO funds outperform as two hit over 100% 12-months return
2 years ago
CLO funds swatted away the competition in April on their way to dominating our top 10 credit hedge fund return table after an upbeat month -
Woah, we’re halfway there
3 years ago
Judging by the 2020 vintage, European CLO overlap is 50%. But varied approaches to holding bonds and the many loans managers turn down mean there are ways for issuers to outperform -
Fund performance: Lightning strikes twice as range of credit funds deliver
What seemed like a chance occurrence in February has struck again in March, as seven categories make our top 10 best performing hedge funds -
Vontobel names fixed income trading head amid four senior hires
3 years ago
Vontobel Asset Management has appointed four senior hires to its team including a newly created role of head of fixed income trading -
Moving fast pays off for hedge funds
3 years ago
2020 was an up and down year in credit, and credit hedge fund managers had to move quickly to capture opportunities from the dislocations that inevitably opened up -
Fund performance: CLO funds pick up where they left off
3 years ago
New year, same funds leading the way with CLO strategies the top performers in January -
Ucits at a glance: CIFC nears positive 12-month returns
3 years ago
Ucits funds have started 2021 on a quiet note as 72% of funds achieved a positive return -
It's all relative: CLOs are lagging no more, as Carlyle deal drags market tighter
3 years ago
“CLOs are lagging” has been a much repeated refrain over the last nine months. But Carlyle Group has this week produced a US CLO that has dragged spreads to their tightest point in three years so that, rather than comparing CLOs to pre-covid levels, they should be assessed against early 2018 -
It's all relative: senior CLO tranches tighten 18% in Europe as CDS indices sit out rally
The corporate credit rally in January is notable because some assets tightened to levels not seen in over a decade (loans), others rallied albeit with a lag (CLOs) and the most liquid stream of credit (CDS indices) defied moves in other asset classes to widen
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Credit Rendezvous: heading for homes
3 years ago
Fund managers in structured credit, real assets and distressed are bullish on the prospects for residential housing in 2021. Elsewhere, niche royalty-based strategies are in favour and although a CLO repricing wave is expected, it may not be easy to execute resets. For more, read our 13-page quarterly report on credit. -
Alcentra co-CIO for liquid credit set to leave this month
3 years ago
A high profile figure in the US CLO business is leaving Alcentra -
Beneath the triple C: 13 CLO loans take a dive but defaults subside to a ripple
3 years ago
22 corporate debt issuers were downgraded to triple C or below in November and December by Moody’s or S&P, out of which 13 can be found in CLO portfolios – hurting $4.55 billion of US CLO loans, €1.87 billion of European CLO portfolios and almost $80 million of middle market CLOs loans, according to CLO-i -
LP round-up: investors gift private debt and leveraged loan RFPs over holiday season
3 years ago
2020 ended on a strong note with four institutional investors increasing asset allocation to private debt or initiating private debt and leveraged loan searches. ArrowMark, Banner Ridge, BBAM, HIG Whitehorse, Monroe and Rialto were also awarded mandates -
Fund performance: CLOs look to continue recovery with end of the year in sight
3 years ago
CLO funds claim the majority of positions in our top 10 -
Europe leads corporate credit rally, but US outperforms in CLOs
3 years ago
iTraxx Crossover has been the CDS market's outperformer this week, tightening over 30 basis points, or 11.4%, to trade at 235bp today. But in the CLO market, US deals have come out on top thanks to a BlackRock CLO that priced its double Bs at some of the tightest levels this year -
US election result is 'benign outcome for financial markets', says Nuveen
3 years ago
This week's election in the US is a 'benign outcome for financial markets' even as the final result of the presidential election remains unknown, according to a new report from Nuveen's global investment committee -
Apollo appoints head of credit valuations from sell-side
3 years ago
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations -
Ares holds €6.97 billion first close on European direct lending fund
3 years ago
Ares Management Group has collected $12 billion in gross credit commitments over the third quarter of the year, according to the firm’s earnings presentation, including $8.2 billion for the first closing of its fifth European direct lending fund -
Alcentra hires Mulshine as head of US distribution
3 years ago
Alcentra has hired a new head of US distribution from Lazard -
Credit Rendezvous: sometimes you have to dive deep to find value
3 years ago
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts -
Fund performance: A third of funds reach positive territory in 2020
3 years ago
August has been another successful month for the CLO category as seven of the top 10 funds invest primarily in CLOs -
Barings and PGIM win loan and structured credit mandates as pension puts £2.7bn in credit
3 years ago
The firms will manage global syndicated loans, securitised credit, emerging market debt and global high yield credit for Border to Coast Pension Partnership's £2.7 billion ($3.43 billion) multi-asset credit fund -
Alcentra appoints DeSimone as CEO
3 years ago
Alcentra has appointed Johnathan DeSimone as chief executive officer following David Forbes-Nixon’s decision to step down and take an investment role at the firm -
Ucits at a glance: Five funds lift YTD returns above 5%
3 years ago
Five funds have managed to pull their year to date figures above 5%; Loomis Sayles (7.50%), Algebris (5.82%), Pictet (5.53%), Amundi (5.36%) and Advent (5.11%)
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