Fund performance: Structured finance finds its footing with credit rally
For the first time this year we have seen a structured finance fund take the top spot, as Serone Key Opportunities Fund leads a multitude of other funds in this category in the top 10 of our monthly fund rankings

Ucits at a glance: European funds and CLOs head rankings
Ucits fund returns

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

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

After long retracing, tight IG names offer blow-out potential
A shift wider of credit spreads was underway as Creditflux went to press, giving weight to several weeks of mounting investor concern about how far the market has retraced since the covid sell-off in March/April

Equity tranche shorts gather for fallen angels
Investor views are starting to form around on-the-run iTraxx and CDX index tranches, following their rolls into new versions at the end of September and start of October

Credit rally rolls on as indices approach one-month tights
CDS indices are approaching their mid-October tights as reality seeps in of a divided US government and, consequently, little chance of dramatic corporate tax increases. Yesterday, iTraxx Main led the way, tightening 5.3%, followed by CDX NA HY and CDX IG (both 4.5%) and iTraxx Crossover (2.8%)

US credit shakes off early jitters as CDX IG tightens 6.9%
Credit spreads have reversed course yet again to join the rally in equities today. The Dow Jones Industrial Average up 2.5% today and credit is following with investment grade indices leading the way

Indices retrace wider as contested election scenario looms
Credit is moving wider this morning as a contested US presidential election looms. This comes as incumbent Donald Trump threatened to go to the US Supreme Court in the early hours of this morning, citing election fraud and calling to stop votes being counted

Credit fundraising: Dubai manager gets in on the act as direct lending takes off
Shuaa launches credit fund in the Gulf as Ares, Contingency, HPS and Perceptive are among those to close billion-plus funds

Apollo appoints head of credit valuations from sell-side
Apollo has appointed a head of credit valuations, as its previous head of credit valuations has transitioned internally to cover private equity valuations

Single names join rally as positive skews persist in Europe
Single name CDS has joined the rally with European credit moving tighter this morning to continue the momentum from Monday. iTraxx Main is trading 2.1 basis tighter at 61.1bp today, according to IHS Markit, having shed 1.9bp yesterday. Similarly, iTraxx Crossover at 348.2bp has tightened 9.7bp today after tightening 9.1bp yesterday

European credit takes lockdown restrictions in its stride as indices tighten
European credit spreads have held firm this morning despite the re-emergence of lockdown measures with the UK government announcing on Saturday that new restrictions will come into play on 5 November

Squarepoint adds former bank credit trading head in London
Squarepoint Capital, a cross-asset fund manager that uses systematic and quantitative strategies, has hired a former global credit trading head at Societe Generale to lead fixed income, currencies and commodities alpha capture

Former Brevan Howard PM rejoins and brings macro funds with him
The chief investment officer of Cove Capital is returning to Brevan Howard four years after leaving the firm.

Scandinavian Airlines System triggers restructuring credit event
Scandinavian Airlines System Denmark–Norway–Sweden has triggered a restructuring credit event as a result of its recent recapitalisation, the Emea Determinations Committee has ruled

Credit sell off picks up pace as lockdown shadows deepen
This week's blow out of credit spreads sharply accelerated today, with mounting coronavirus lockdown fears fuelling a surge wider across the board in tandem with plummeting stocks

Scandinavian Airlines System posed as restructuring credit event
The Emea Determinations Committee has accepted a request to rule on whether Scandinavian Airlines System Denmark–Norway–Sweden has triggered a restructuring credit event as a result of its recent recapitalisation

IG names hit hardest as cocktail of woes routs market
Investor nervousness is evident at the start of the week with a big widening of spreads on Monday as lack of accord on a new US stimulus package added to concern about rising coronavirus case numbers and jitters in the oil market

Rally puts credit back on even footing but single name volatility persists
A sizeable rally today is putting credit indices back on a flattish footing with where they began the week, adding to the sense the market is finely poised with only six trading days to go before the US presidential election

Garfunkelux gaps in as refi points to CDS orphaning
Garfunkelux Holdco 2, the CDS trading entity of debt collector Lowell, is leading today's drive tighter as the company's planned refinancing raised the prospect of contracts becoming orphaned

Selecta CDS settles with final price above bonds
Selecta Group CDS contracts have settled at a final price higher than where bonds were trading and above the credit event auction's initial market midpoint

Selecta auction on course for mid-range CDS recovery
Selecta Group CDS contracts look set to generate a pay-out for protection buyers about midway in their range the months running up to today's credit event auction

New credit hedge fund manager hires from Man GLG in London
A start-up credit fund manager has added to its ranks by hiring a portfolio manager

Credit Rendezvous: sometimes you have to dive deep to find value
Some parts of the credit market are fraught with danger, but that does not mean portfolio managers are avoiding them entirely, according to the Credit Rendezvous, Creditflux's 10-page quarterly report eaturing comments from 15 credit experts