New venture marks the return of pure credit funds
New venture marks the return of pure credit funds

Bond manager gains ability to trade credit derivatives
UK-based asset manager M&G Investment Management has become the latest to gain an ability to trade credit derivatives across a range of its credit-oriented funds

Write-downs pass $400 billion
In April, our tally of subprime-related write-downs stood at $213 billion. Four months later – with help from some huge hits at insurers – that figure has more than doubled. There is more to come in the third quarter.

New funds join Creditflux listing
This month sees the addition of three new funds to Creditflux’s listing of credit hedge fund returns

Loan rally leaves Crossover standing
Loan rally leaves Crossover standing

Covenant language drives trading
Covenant language drives trading

PMI widens but says claims paying ability in tact despite downgrade
Mortgage insurers out further on downgrade.

Belgian bank removes Fitch from synthetic CDOs
Belgian bank removes Fitch from synthetic CDOs

Dutch asset manager moves into structured credit risk-sharing
Dutch asset manager PGGM and Standard Chartered Bank have agreed to a risk-sharing arrangement on Standard Chartered’s trade finance business

Axa loan vehicle GAV falls on ABS decline
Axa Investment Managers' permanent capital vehicle Volta Finance has said that its gross asset value fell by €0.39 a share to €5.92 since the end of June, largely due to a decline in its ABS portfolio

Manager replaced on CDO of ABS
Manager replaced on CDO of ABS

European indices widen in sympathy with equities' slide
Lehman's writedown potential spooks market.

Investors vote to remove SIV manager
Investors vote to remove SIV manager

Credit crisis hits cost ING €60 million in Q2
Dutch financial services group ING has reported second quarter results showing a €12 million loss on its exposure to CDOs and CLOs and €7 million on US subprime RMBS

Hong Kong bank takes further $20 million hit from SIVs
Hong Kong bank takes further $20 million hit from SIVs

Manager resigns from CDO of ABS
Manager resigns from CDO of ABS

Credit manager hires UBS to help it find a buyer
Deerfield Capital said yesterday that it has brought in UBS it advise it on its strategic options