High yield bonds regain lost ground

Steinhoff CDS auction in limbo due to lock-up and CVA
A date to settle CDS referencing Steinhoff Europe had still to be agreed as Creditflux went to press — more than a month on from when the EMEA Determinations Committee (DC) ruled that the company had triggered a failure-to-pay credit event.

Investors back multi-asset funds for high yield gains
Multi-asset funds that include credit have become popular among institutional investors.

Fund performance
A round-up of fund performance

Barclays re-hires credit structurer
A credit structurer in London has returned to Barclays after taking a career break from the bank

Credit Suisse adds special situations trading head among raft of hires
Credit Suisse has continued to build momentum in its credit business with the hire of a managing director to head special situations and loan trading with its Europe, Middle East and Africa credit products business, following on from nine others across its London and New York credit business

US pension fund to commit $1.1 billion in private credit by 2020
Investment consultant NEPC has recommended that Arizona Public Safety Personnel Retirement System (PSPRS) commit $550 million in private credit in both 2019 and 2020, according to a private credit review  

IFM grows debt European debt team
IFM Investors, the AUD 117.1bn institutional investor, has expanded its debt EMEA team with the appointments of Lucie Mixeras and Rachel Fleming.  

BNP Paribas AM hires Robeco investment specialist for quant strategies
BNP Paribas Asset Management has appointed Grégory Taïeb for the newly-created role of investment specialist within the firm’s multi-asset, quantitative and solutions investment group, which includes investments in credit.  

Pimco appoints former JP Morgan AM official as head of Switzerland
The new hire will be responsible for client management and developing strategic growth opportunities

Merian drops Janus Henderson from bond fund previously managed by Bill Gross
Merian Global Investors has taken management of Merian Total Return USD Bond Fund in-house

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

Oak Hill reshuffles leadership in Europe
Oak Hill Advisors has appointed three long-serving members of its investment and business development teams to lead the European office

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

Moving on from the late 2018 hangover
It might be too early to call a full recovery, but it’s fair to say that the US loan market is back on track with $48 billion of institutional issuance in 2019 — 88% of which is made up of new issues

Tabula launches ETF to capture iTraxx Crossover and CDX HY volatility premia
Tabula Investment Management, a European fixed income exchange traded fund (ETF) provider, has launched a product aimed at capturing the volatility premium embedded in index options on iTraxx Crossover and its US counterpart CDX HY

BlackRock names global alternatives head amid senior leadership shake-up
BlackRock has reshuffled its leadership and made several senior changes across various parts of its business, according to an internal memo seen by Creditflux

New Look bankruptcy credit event question put before Determinations Committee
The Credit Derivatives Determinations Committee for the Europe Middle East and Africa (EMEA) region has been asked to rule on whether New Look, the UK based clothes retailer, has triggered a bankruptcy credit event

New manager Resco lands ex-credit head to found advisory board
Resco Asset Management, a London based asset manager set up last year, has appointed the first of an anticipated three advisory board members

NNIP unveils short-duration green bond fund
The fund will have a duration of just two years compared to a typical five-year fund

Muzinich launches multi-strategy credit fund with Italian wealth manager
Available for retail investors, the fund will invest in syndicated loans, private debt and high yield. It will be structured as a European Long-Term Investment Fund

Steinhoff has triggered failure-to-pay credit event, rules DC
Steinhoff Europe has triggered a failure-to-pay credit event, the EMEA Credit Derivatives Determinations Committee has ruled unanimously

Steinhoff Europe failure-to-pay credit event question posed to DC
The EMEA Determinations Committee has been asked to rule on whether Steinhoff Europe has triggered a failure-to-pay credit event, following the retailer’s lock-up period request

Short resets take CDS indices wider at March roll
CDX and iTraxx credit derivative indices are rolling into new series today, with short position resets taking the incoming series 31 of the Europe main index wide of where series 30 closed yesterday