Euro loan slide hits ramped warehouses as Carlyle eyes print and sprint deal
European loans tumbled in May, leaving CLO warehouses under pressure and causing a slowdown in primary issuance

We’ll get through this awkward patch
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As

Fund performance: Credit hits another bump in the road after March revival
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March

Credit hedge funds (June 2022)
Credit hedge fund returns

   

Ucits at a glance: Diamond shines after dull start to year
Ucits funds have continued to arrest the slide that followed the dip in February, as 37% of funds in April saw positive returns

Credit funds at a glance (June 2022)
A round up of fundraising and people moves in credit
 
   

Fair Oaks adds to credit, CLO and marketing team in London
Fair Oaks Capital has hired three people to its investment team and two to its marketing team

Problem in checkout area as CLO favourite Diebold Nixdorf slips to triple C
Diebold Nixdorf, an Ohio-headquartered technology firm with $538 million in debt held by CLOs globally, was downgraded to triple-C by rating agency Moody’s on Friday

Defaults should keep low despite looming recession, says TwentyFour
Corporate default rates should remain low even as the chance of a recession looms larger, according to a new report from TwentyFour Asset Management

European CLO managers aim for bigger bond bucket fix
European CLO managers are eyeing larger fixed rate bond allocations amid dislocation and lower loan supply. This has, in turn, led to an increase in fixed rate tranches

Investable universe for Euro CLOs shrinks amid inflation
The number of loans suitable for European CLOs is getting smaller at a time when new CLO issuers are looking to enter the market

Fund performance: Credit bounces back from February blues
March performance figures were a slight improvement from the market turn in February; 47% of funds made positive returns, an increase on 17% the previous month

Credit hedge funds (May 2022)
Credit hedge fund returns  

Ucits at a glance: Robus stands tall among Ucits funds
27% of Ucits funds had positive returns in March, a slight improvement from 10% in February

Credit funds at a glance (May 2022)
A round up of fundraising and people moves in credit
   

Dispersion begets dispersion in mixed bag of fund returns
Idiosyncratic risks are set to rise in credit, with fund managers becoming occupied with tail risks, and that has been seen in a scattered set of March hedge fund returns

High yield / loan slowdown affects year-end projections and pricing: Barclays
A sharp decline in primary market activity means expectations for high yield bond and even leveraged loan issuance need to be lowered, say Barclays credit strategists. And that in turn has implications for relative value

Managers debate ethics of investments in arms makers

Fund performance: Credit slumps widely as CLOs lag furthest behind
February’s market turn brought a variety of fund categories into the Creditflux top ten as six different categories were represented -- US high yield standing tallest among them

Credit hedge funds (April 2022)
Credit hedge fund returns

Credit funds at a glance (April 2022)
A round up of fundraising and people moves in credit  

Ucits at a glance: Long-short funds provide resistance in tough month
In February, Ucits funds followed market sentiment as 90% made negative returns

European CLO pipeline thins as investors wait for stability
The European leveraged loan and CLO market has yet to regain momentum following the start of the Ukraine-Russia conflict, with investors pointing to a thin immediate CLO pipeline

"Faltering oil supply is lamentable at a time of strategic and moral shortfall"
We need to accept the pain and cut dependence on Russian oil today