Breakthroughs come thick and fast for Libor alternatives
Momentum has gathered around initiatives to replace Libor in contracts, with CME Group obtaining a regulatory nod on the term Secured Overnight Financing Rate (Sofr) as well as moving to launch interest rate futures based on banks’ short term credit yields

Fund performance: CLO funds outperform as two hit over 100% 12-months return
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

Credit hedge funds (June 2021)
Credit hedge fund returns

Ucits at a glance: Altana sits atop tables as credit bounces back
Ucits funds picked up in April as 79% made positive returns

Meag hires experienced credit specialist for top fixed income job
€328 billion asset manager Meag has appointed a head of active fixed income in Munich to oversee a range of assets including credit

Blackstone and Credit Suisse among participants in talks for new ESG loan index
European leveraged loan market participants – including Blackstone and Credit Suisse – are said to be in the process of launching the ESG loan index

DWS and Tikehau target UK pensions with multi-strategy credit fund
The new fund will invest in CLOs, ABS, private debt, leveraged loans, infrastructure debt and real estate debt

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

Credit hedge funds (May 2021)
Credit hedge fund returns

Ucits at a glance: Altana moves into pole position
March marked a drop in pace for Ucits funds as only 62% of funds made positive returns, compared to 80% in February

CLOs cushioned as regulators get more comfortable on Sofr
The quest to find a suitable Libor replacement looks to have taken a big step forward in recent weeks, with hopes rekindled that securitised products such as CLOs and ABS could soon make use of a term Secured Overnight Financing Rate (Sofr)

Credit fundraising: three massive European direct lending funds notch up €17.6 bn
Fundraising figures continued upwards in April as just over $24 billion was raised for credit funds, alongside $3.2 worth of allocations to credit managers. Nine funds held final closes including the largest European direct lending fund raised to date

Standard Life Aberdeen 2 rbrnd 2 Abrdn
Standard Life Aberdeen has announced that it is changing its name to Abrdn (pronounced Aberdeen) 

Credit Rendezvous: ready and waiting
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress 

Credit fundraising: Goldman Sachs direct lending fund takes March figures to $23 bn
Credit funds sprung forward in March as $23 billion was raised alongside $2.6 billion worth of allocations to credit managers. 

Fund managers brace for EU’s new sustainability regulations
European fund managers were faced with new environmental, social and corporate governance (ESG) regulations in March, which enhance disclosure requirements around sustainability

Ucits at a glance: Advent and Algebris lead the pack again
Ucits funds saw the brighter side of February, as 80% of funds achieved a positive return

Credit hedge funds (April 2021)
Monthly credit hedge fund tables

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

Natixis IM hires CEO with incumbent Raby set to depart
Natixis Investment Managers has hired Generali's chief investment officer to lead the firm from 12 April

MV pairs with Loomis Sayles on open-ended credit fund for UK pensions
Smart Pensions is the cornerstone investor on MV Dual Credit Fund, providing around £100 million to the strategy

Los Angeles pension seeks global credit manager for $880 million mandate
Flush with cash? The Los Angeles Water & Power Employees' Retirement Plan has launched a request for proposal for its ‘active extended global credit’ mandate. But only managers with $50 billion under management need apply

CIFC multi-asset strategy launch underlines diversification beyond CLOs
CIFC Asset Management has launched a multi-strategy credit strategy, underlining its development from a CLO issuance business to a broader credit asset manager

Fund lenders heighten scrutiny after alleged subscription credit facility fraud
An ongoing investigation into an alleged subscription credit facility fraud has left market participants questioning standard due diligence processes

Mizuho appoints loan trading head in London
Mizuho says it has hired an experienced loans specialist as head of loan trading for Emea in a newly-created role