Fund performance
A round-up of fund performance

Green bonds and international credit deliver double-digit returns for Swedish pension
Second Swedish National Pension Fund (AP2) reached SEK 367.4 billion in the first half of 2019, with investments in fixed income generating double-digit returns, according to its half year report  

Emerging market CDS trading slumped in Q2, finds Emta
There was $364 billion of emerging markets CDS trading in second quarter, according to the Emerging Markets Traders Association

Fund performance: Mercury rises as does credit fund performance

M&G launches ESG bond fund
M&G Investments has launched an emerging markets corporate bond fund, with an emphasis on environmental, social and governance characteristics  

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

ResponsAbility closes impact securitisation at $175 million
ResponsAbility, a Zurich-headquartered impact assessment manager, has closed a $175 million securitisation of loans to microfinance and SME-finance providers in emerging markets

Credit funds at a glance

First Abu Dhabi Bank pushes into credit derivatives with trading head hire
First Abu Dhabi Bank (FAB) is making a foray into credit derivatives and has hired an experienced credit trader to lead the initiative

Florida-based manager revives plan for rare emerging markets CBO
RVX Asset Management has launched an unusual securitisation backed by emerging markets debt, according to market sources

Border to Coast pension seeks exposure to UK investment grade credit
Border to Coast Pensions Partnership is set to begin a manager selection process, seeking UK investment grade credit and global multi-asset credit funds  

Largest UK pension appoints new CEO of investments
Universities Superannuation Scheme (USS) has appointed a new chief executive officer of its investment management business  

Carmignac adds global credit Ucits strategy to its range
The fund will be co-managed by Carignac’s head of credit Pierre Verlé and fixed income fund manager Alexandre Deneuville

Illiquid credit boost returns for PensionDanmark
PensionDanmark has generated 5.8% returns from its illiquid credit portfolio for the year 2018, according to its latest annual report published today. But its liquid credit portfolio took a 3.4% hit

It’s going to be a credit picker’s market
Our panel of experts believe that the credit market will be volatile this year, but there will be opportunities in European credit and additional tier one bonds, trups CDOs and unitranches

Muzinich poaches Neuberger Berman MD for top fund distribution role
Muzinich has hired a global head of distribution, according to an announcement today, picking up the role previously held by Joshua Hughes, who left for CIFC Asset Management in May

Mirabaud boosts emerging markets capabilities with manager acquisition
Galloway Capital Management, an emerging markets-focused hedge fund manager, has been fully acquired by Mirabaud Asset Management

BNP Paribas Asset Management hires multi-strategy products head
BNP Paribas Asset Management has created a new position within its fixed income division

Blackstone builds on multi-asset approach with fifth fund
The new vehicle will invest directly into Blackstone deals across its alternatives platform

Hermes brings in senior emerging market debt PM
Hermes Investment Management has appointed a former Jupiter Asset Management official as a senior emerging market debt portfolio manager

Danish penion fund's credit portfolio returns to growth
ATP, the Danish pension fund, has generated a return of DKK 799m from its credit portfolio for the first three quarters of 2018, marking a recovery compared to the H1 negative return of DKK200m.  

Former BlackRock PM joins Mirabaud for emerging market credit role
Mirabaud Asset Management has bolstered its emerging market debt team with the appointment of former BlackRock official Puneet Singh

August: fund performance
CLO spreads jumped wider in August, but funds that invest in these assets have been able to outperform

September: credit funds at a glance
White Oak Global Advisors held a $2.1 billion final close on a new direct lending fund, while Phil Raciti's move from CVC Credit Partners to Halcyon Capital Management was one of the biggest moves in the credit industry

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure