"The lack of standardised ESG data creates opportunities for data-driven investors"
Investors can gain an edge by using technology to help parse ESG data

Woah, we’re halfway there
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

Points up front: Abrdn finds text appeal
Marketing consultants have been working overtime to concoct new brand names, but their efforts have not been met with universal acclaim

Points up front: The flattest term curve - work anniversary rewards
If you think CLO term curves are flat with a handful of basis points between three and five-year triple A CLOs, then you haven’t seen anything yet

BofA and State Street divided over CLO convertibles
A split has emerged in the approach between the two big buyers of triple A-rated CLO tranches that are structured as loans

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) 

CME touts forward-looking Sofr term benchmarks
CME Group has begun publishing term benchmarks for the secured overnight interest rate (Sofr) as part of the global push to move away from Libor in financial markets

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 

Beneath the triple C: CLOs benefit as upgrades make for lighter triple C buckets
For the first time since the sell off in March last year, downgrades to triple C have come to a near-standstill

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. 

BofA and Citi unveil multi-dealer platform for CLOs and loans
Bank of America and Citi have joined forces with plans for a multi-dealer CLO and loan platform which will cover trading, data and analytics

"The heterogeneous set of KPIs make comparisons difficult and self-policing hurts credibility"
Loans with ESG ratchets are popular and a good way to align incentives – but we need accountable external reviewers

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

ESG drive poses little threat to CLO returns or flexibility, says Moody's
Environmental, social and governance investment criteria are not impairing CLOs either in flexibility or performance, Moody's Investors Service has found in a new report

CLO managers eye bonds as short-dated loan universe shrinks
European CLO managers that focus on bonds say they had flexibility in the first quarter as the new issue loan pipeline ramped up

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

We say it: Creditflux salutes women in credit
The credit industry is blessed with many strong women and for this issue of Creditflux we’re exclusively hearing their voices across our news, analysis and columns

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