Texas pension pumps $300 million into Pimco fund
Texas Municipal Retirement System has earmarked up to $300 million to a credit fund managed by Pimco, according to board documents seen by Creditflux, building on a relationship established through a predecessor fund

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

California pension looks to cut liquid credit allocations
Fresno County Employees’ Retirement Association will likely cut back on liquid credit and completely remove hedge fund allocations in 2020.. But the pension is optimistic about core bonds – and may include it as a new asset class

Los Angeles pension shakes up EM and high yield debt portfolios
Los Angeles City Employees’ Retirement System has shortlisted four managers for its emerging market debt mandate, while looking for one-year contract extension with its US high yield income manager, according to documents seen by Creditflux  

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

Pimco launches listed multi-sector global credit fund
Known as Pimco Tactical Income Fund, the fund will invest in a range of global credit strategies and will list on the New York Stock Exchange

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

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

China ambitions checked in final roll lists for iTraxx and CDX indices
The index roll lists for iTraxx Europe, iTraxx ex-Japan and CDX EM, have all undergone a rethink since IHS Markit published provisional lists earlier this week, with final lists showing name changes

iTraxx and CDX roll provisional lists reveal effects of index overhauls
Eagerly awaited provisional lists are out for this month’s index CDS rolls, with big changes signalled across iTraxx and CDX products

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  

Connecticut $36 billion pension hires first chief risk officer
The Connecticut Retirement Plans and Trust Funds has hired its first-ever chief risk officer

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

Ontario pension selects new president and CEO

Ontario Teachers’ Pension Plan has appointed Jo Taylor as its new president and chief executive officer, effective 1 January  

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

Stone Harbor appoints co-CIO and high yield co-heads
Stone Harbor Investment Partners, the New York headquartered credit fund manager, has opted to share out its chief investment officer responsibilities

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

California pension fund seeks opportunistic credit manager
Merced County Employees’ Retirement Association is on the search for an opportunistic credit manager, according to board minutes seen by Creditflux

Los Angeles pension fund plans $3.7 billion allocation to credit
Los Angeles City Employees' Retirement System, the $17 billion pension fund, is allocating to credit in 2019 - it's looking to put $2.44 billion to work in core-fixed income, $800 million into emerging markets debt, $235 million into high yield and a similar amount into a bond/loan hybrid fund

Axa IM reveals new Ucits-compliant global credit fund
The new vehicle aims to offer investors a Ucits-compliant product that invets across the whole credit spectrum 

Lord Abbett markets new credit interval fund
The asset manager becomes the latest to join the interval fund rush 

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

Vanguard plans global credit bond fund launch for US investors
Vanguard’s $1.3 trillion fixed income group is looking towards a US-domiciled global credit bond fund in the fourth quarter this year, following the Ucits version it launched last year 

Invesco to convert Canadian bond fund into global credit strategy
The new Invesco Active Multi-Sector Credit Fund will have a global multi-sector approach

Californian pension fund looks to increase exposure to opportunistic credit
Merced Country Employees Retirement Association (MCERA) may increase its exposure to opportunistic credit, according to documents seen by Creditflux