Ucits at a glance: 2022 opens shakily but with a familiar lead
Ucits funds moved slowly into 2022 as 59% made negative returns in January

Packaging company Schur is painful for European CLOs
The dramatic fall in loans taken out by Austrian flexible plastic packaging manufacturer Schur Flexibles has shocked CLO managers. The firm is hiring PJT Partners and Allen & Overy ahead of a potential restructuring

Fund performance: Groundhog Day as 2021 leaders start strong
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category

Credit hedge funds (March 2022)
Credit hedge fund returns

CLOs should realise gains from reorg equity positions: Pearl Diver
Reorg equity sitting within CLOs has risen in value over the last year and Pearl Diver Capital says it may be a good time to exit these positions “and realise value for CLOs”

Credit hedge funds (February 2022)
Credit hedge fund returns

Fund performance: Wasserstein's early 2021 performance drives it to the top
The final top 10 of 2021 featured a variety of funds as five different strategies were ranked among the best. US high yield was the most highly represented with two BlackRock funds and an Angel Oak in the top 10

Ucits at a glance: Robus claims top spot in 2021 after tight race
Ucits funds have ended 2021 on a high as 62% made positive returns in December

A fresh approach to loss distribution
Considering how cash balances change over time, loss distribution models can look very different to conventional thinking. So is your CLO’s pricing based on incorrect assumptions?  

Banks and loans to benefit in 2022 as safe havens dwindle
Safe havens and sector pitfalls are among some of the top considerations for portfolio managers this year, as a consensus forms that credit could suffer versus other asset classes

Credit hedge funds (January 2022)
Credit hedge fund returns

Ucits at a glance: Robus and Altana dip but stay at the top
In October, Ucits funds continued a slide that had begun the previous month with 60% of them in the red

Amherst Pierpont takes total return approach as it builds CLO analytics platform
Amherst Pierpont is making CLO analysis the focal point of a push into the asset class, with the brokerage creating a platform that looks at the alpha and beta generated by a CLO manager, as well as their pricing on CLO liabilities.

Credit hedge funds (November 2021)
Credit hedge fund returns

Ucits at a glance: Robus and Altana enter the final sprint neck and neck
A downward turn hit Ucits funds as 65% of them made positive returns in September,

CLO Census latest: banks in tight race, 51% optimistic on Sofr and large managers viewed as outperformers
More than 100 CLO market participants have already cast their vote in the most tightly-contested Creditflux CLO Census ever with a single vote separating the top three banks at US and European CLO execution. Meanwhile, most voters are unworried by the Sofr migration and BlackRock, CSAM, CIFC and PGIM are among the CLO managers viewed as having outperformed following the covid crash. Click here to vote: CreditfluxCLOCensus2021

Everyone’s ramping

Still plenty more fish in the triple C

Credit hedge funds (October 2021)
Credit hedge fund returns

Ucits at a glance: Angsana recovers from July slump
Just under 75% of Ucits funds made positive returns in August, holding steady from June and July

CLO issuers sit on Sofr as they brace for short-term hit
Times are about as good as they get in the US CLO market, with new issuance breaking records as daily volumes in September regularly topped $2 billion, but in three months new CLOs will have to adopt Sofr as a benchmark and thoughts are turning to how the CLO industry will manage the accompanying basis risk

Fitch cuts US leveraged loan default rate projection
US leveraged loan default rate is anticipated to be just 1.5% by year-end 2022, according to a new report from Fitch Ratings. That’s down from the rating agencies’ original 2.5%-3.5% projection

Variety of US CLO-eligible loans makes ramping up a joy [CLO Symposium video]
A buoyant US CLO market is basking in a golden summer with record issuanc. Speakers at Creditflux’s CLO Symposium earlier this month pointed out a vibrant loan market means CLO issuers are spoiled for choice

Credit hedge funds (September 2021)
Credit hedge fund returns

Ucits at a glance: Loomis Sayles makes gains in sleepy July
Ucits fund returns