Credit funds at a glance (August 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits funds march on and erase Q1 losses
95% of Ucits credit funds listed with Creditflux posted positive returns in June to keep up the momentum from May when all but one fund was in positive territory

Credit hedge funds (August 2020)
Monthly credit hedge fund tables

Credit Rendezvous: record fiscal stimulus provides pick-me-up
Credit markets had a mini bounce-back in the second quarter as central banks poured cash into the economy. But there is great uncertainty about the effects of a second wave of coronavirus. As part of our quarterly report on credit - the Credit Rendezvous - Creditflux spoke to experts across 12 segments of the credit market

Fund performance: CLO funds keep up the momentum for second month running
May returns have been led by continued momentum from CLO funds. In the last month, funds that invest in CLO notes in some capacity have made up 90% of our top 10, while 97% of funds listed generated positive returns - an improvement of 15% on last month's figures.

Credit funds at a glance (July 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits recover lost ground
The foot has come off the gas for many funds - 57% of funds did not break the 2% return barrier.

Algebris leads monthly returns in new world matrix
Algebris Macro Credit's return submission for May was among the best non-CLO/ABS fund performers out of those Creditflux tracks, adding to a strong turnaround for the strategy

SocGen promotes cross-asset solutions specialist
Societe Generale has named a global head of economics, cross-asset and quant research

PGIM prepares listed credit fund
PGIM is marketing a ‘flexible’ listed fund, dubbed PGIM Strategic Credit Fund , to invest at least 80% across fixed income

Fund performance: CLO tranches move up
April returns managed a partial bounce back after a tumultuous March. 82% of funds listed in the Creditflux database made positive returns, showing at least small signs of recovery after 90% of all funds listed posted negative returns in March

Credit funds at a glance (June 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits begin recovery phase
April returns prove positive for Ucits funds as 85% of those listed in the Creditflux database have moved into the black after a rough March

Skew trades bloom in winter for credit
March fund returns submitted to Creditflux in April were poor, but one manager distinguished itself in the covid-19 dislocation using a synthetic strategy rarely seen since the 2008 financial

Lebanon CDS auction pays out 86 cents to protection buyers
Holders of protection on Lebanon sovereign debt have received an 86 cent pay-out on every dollar, after today's credit event auction produced a final price of just 14 cents

Eight bidders line up for Lebanon CDS auction as Morgan Stanley joins
Tomorrow's auction to settle Lebanon sovereign CDS will have eight participating bidders, after the Determinations Committee voted to add Morgan Stanley to the list

Frontier CDS auction to follow Lebanon and Whiting Petroleum
An auction to settle CDS referencing Frontier Communications will take place next month

Credit Rendezvous: recovery begins, but is it U, V or even W?
Investing in credit is not as easy as ABC. The coronavirus crisis has crushed valuations and although most assets will eventually pull to par, no one is sure how the recovery will pan out

Lebanon CDS auction set to include 15 cent bonds
The cheapest bonds to deliver into a credit event auction to settle Lebanese sovereign CDS could be worth only 15 cents in the dollar, according to a 27-note initial list published by the Determinations Committee

Credit market hits new wides as government outbreak measures intensify
Credit market are making another push wider at the start of the week, after governments tightened restrictions on movement to deal with the escalating coronavirus outbreak

Lebanon triggers failure-to-pay credit event with CDS priced at 89 points up front
Lebanon has triggered a failure-to-pay credit event on CDS referencing its sovereign bonds, the Determinations Committee for Europe, Middle East and Africa has ruled

Lebanon credit event trigger posed to Determinations Committee
The Determinations Committee for Europe, Middle East and Africa has accepted a request to rule on whether Lebanon has triggered a failure-to-pay credit event, after the country withheld payments due on bonds earlier this month

Credit Rendezvous: the outlook in 2020 across a dozen segments of the credit market
Welcome to the Credit Rendezvous, the first instalment of a regular feature published by Creditflux that tracks credit market dynamics in a dozen segments from investment grade, liquid loans, CLOs and CSOs all the way through to distressed debt. We view this as the meeting point for credit specialists across strategies to share their perspectives

European financials outperform corporates as coronavirus spreads
Financial CDS is outperforming corporate credit today, and Europe outperforming the US, as the market jumps wider on rising alarm at the spread of China’s novel coronavirus

Rude awakening for credit as US airstrike sends global shockwaves
It only took a day for the positive mood greeting financial markets in 2020 to turn nervous, with credit and equities faltering in early trading today after the US killed a top Iranian military official