CDS data snapshot: central bank positioning and index rolls drive flows
Welcome to the inaugural run of what will become a weekly insight into credit derivatives trading. Each week, Creditflux will highlight trends and dynamics from most recently available market data. We welcome feedback on measures of the market readers would like to see here in future

US credit managers make ESG breakthrough after taking a first step via UNPRI
Incorporating a framework for investing in companies based on environmental, social and governance (ESG) factors is a challenge that US credit managers are accepting in growing numbers

Australian pension fund hires head of ESG
The Australian Catholic Superannuation & Retirement Fund has appointed Louise Bradshaw to lead the pension fund’s initiatives in regard to environmental, social, and governance (ESG) investments

Fund performance
A round-up of fund performance

LCH's French unit adds first Japanese clearing member
Mizuho has signed up as the first Japanese clearing member of LCH SA, the French clearing unit of London Stock Exchange-owned LCH Group

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

Credit plays a big part as KKR increases AUM by $6.5 billion
KKR grew its assets under management by 8% over the second quarter, according to the firm’s earnings call, which took place on Thursday.

Goldman Sachs creates sustainable finance group
Goldman Sachs has launched a sustainable finance group, to deliver sustainable growth solutions to the bank’s clients, according to documents seen by Creditflux.  

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

Loomis Sayles puts together Asia bond fund
Loomis Sayles has added to its credit offering with the launch of its new Asia Bond Plus strategy

Japanese pension fund turns its attention to credit funds
Japan's Government Pension Investment Fund (GPIF) has launched a request for information (RFI) on private debt with the institution looking into new assets classes in a bid to generate higher returns  

Ucits at a glance
A round-up of ucits performance

Tribeca launches Asian credit fund with new hire
The Australian manager has recieved $50 million from a family office

16% of insurers plan CLO allocation increase, survey finds
Goldman Sachs Asset Management has released its annual insurance asset management survey

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

Isda tables plans to rid CDS market of narrowly tailored credit events
After lengthy deliberation, a working group of major firms is today set to publish proposals aimed at ridding the market of ‘narrowly tailored credit events’, whereby borrowers are persuaded to default on debt payments in order to trigger pay-outs for CDS holders

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

Majority of investors seek to increase private credit allocations, BlackRock survey reveals
Over half of investors plan to increase their allocation to private credit in 2019, according to an institutional client rebalancing report published by BlackRock

Eaton Vance adds former Janus Henderson official as credit portfolio manager
Dónal Kinsella joins as institutional portfolio manager for the firm’s corporate credit strategies

Astaldi triggers first credit event in iTraxx on-the-run indices for nine years
Astaldi has triggered a bankruptcy credit event, the Isda-hosted EMEA Credit Determinations Committee has ruled

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

Astaldi credit event question posed as its distress weighs on iTraxx Crossover
Astaldi, a constituent of iTraxx Crossover, has been referred to ISDA-hosted Credit Determinations Committees as a possible bankruptcy credit event – less than two weeks after the index rolled into a new series

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

Pimco receives nearly $400 million for ESG fixed income mandate
 An $11 billion super fund has awarded a new ESG-focused fixed income mandate to Pimco

Aircraft lessors: gathering clouds lead to talk of turbulence
Aircraft leasing companies have been cruising over the past two years as passenger numbers grew, but rising interest rates and trade tariff concerns are making some bondholders nervous