Apollo CLO and CSO specialists earn promotion to partner
Apollo Global Management has promoted two members of its global structured credit team, according to market sources

Stockholm-based firm targets CLOs, CSOs and SRTs for new fund after stellar 2019
A fund manager, established in 2018, is said to be launching its second corporate structured credit fund, sources say, after generating 20% returns last year via its debut strategy. The new fund will invest across CLOs, CSOs, SRTs and index tranches 

CSO arrangers look to build on $65bn of issuance in 2019
The synthetic bespoke tranche market this year has fallen short of expectations in terms of overall issuance volume, but ends with transformative inroads being made.

Falling correlation reignites passion for index tranche trades
Dispersion in the global corporate credit market is rekindling interest in correlation trading, with dealer sources reporting that a late surge lifted 2019 index tranche volumes to $250 billion.

Ucits at a glance: Ucits continue to chart a steady course

Ucits at a glance: ucits continue to chart a steady course

Ucits at a glance
A round-up of ucits fund performance

Axiom makes big name correlation hire for credit opportunity fund
Axiom Alternative Investments has boosted its platform with the hire of synthetic credit veteran as a portfolio manager

‘Ex’ index trades take off as dispersion peaks
A gap is yawning between how the weakest constituents of CDX HY and iTraxx Crossover trade versus their broader portfolios, leading investors to find new ways to hedge and capture idiosyncratic risk.

Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility

Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

Santander issues SRT referencing Spanish SME loans
Banco Santander has issued a significant risk transfer referencing a €3 billion portfolio of loans

Arrival of five-year bespokes draws in CLO investors
Synthetic bespoke tranches are undergoing a major shift, with dealers projecting five-year business to supersede previously dominant shorter tenors by the end of 2019.

Cairn teams with Mediobanca for European credit Ucits fund
The strategy will focus on four credit asset classes - financials, corporates, asset-backed securities and special opportunities 

Index tranche levels spike as investors advance into equity
Trading of credit index tranches is picking up, with some $61 billion worth changing hands in the space during the first quarter, according to data from the Depository Trust & Clearing Corporation

Bespoke gains pull CLO buyers as market tipped to hit $100bn
Synthetic bespoke issuance could catch up with the more visible CLO market this year, say structured credit specialists

Regulation stifles SRTs, but banks and investors revel in quarter-four outperformance
Over the course of 2018 there was roughly €6.5 billion of issuance in the market for significant risk transfer (SRT) deals, sources say, with the last three months understood to be the busiest quarter on record

Mizuho appoints Cairn co-CIO as global markets head in London
The announcement follows the departure of the bank's incumbent head of global markets

Dentons boosts derivatives practice in London with two partner
Dentons has added two partners to its derivatives practice in London

Behave yourselves: EBA policy advisor warns against misuse of securitisation rules
The European securitisation market has come a long way over the last decade, and the message from one policy advisor is clear – don’t do anything to mess it up.

Former London Stock Exchange CEO joins CQS
CQS has moved into 2019 under a new leadership structure with Xavier Rolet being appointed chief executive officer.

Spanish bank prices €972 million SRT with triple As paying 31bp
Cajamar Caja Rural, based in southern Spain, has priced a €972.1 million significant risk transfer (SRT), according to market sources