Credit hedge fund returns (May 2023)
Credit hedge fund returns

Credit funds at a glance (May 2023)
A round-up of people moves and fund raising

March madness sees most funds give up gains made in Q1
After a positive start to the year, credit funds ended the quarter with a step backwards; just under 30% of those listed reached positive returns for the month.

Credit hedge fund returns (April 2023)
Credit hedge fund returns

Rope-a-dope brings knock-out returns
Post-pandemic US and European CLOs delivered mid-teen equity returns in 2022, despite a barrage of weak macroeconomic news and what could have been a heavyweight Libor mismatch  

Fund performance: Credit funds end difficult 2022 on a positive note
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black

Credit hedge fund returns (February 2023)
Credit hedge fund returns

Points up front: Whatever the size, CLO performance dwarfs others
A graphic depicting the investment fund universe was doing the rounds on social media late in 2022...

Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory

Fund performance: Light at the end of the tunnel for credit funds after difficult year
Following a tough September, credit funds bounced back in October as 59% of funds made positive returns.

Credit hedge fund returns (December 2023)
Credit hedge fund returns

Manager looks to cut HY exposures in CLO-heavy credit interval fund
A credit fund manager has provided a performance update on is multi-strategy closed-end credit fund through regulatory filings, revealing it has beat its benchmark from 1 April to 30 September despite losing 13.66%

European CLO managers trade loans to avoid (par) burn
Between March and July, European CLO managers traded €21 billion of assets within CLOs that were still in their reinvestment period as opportunities arose amid a weaker macro environment and Russia’s war with Ukraine

Apollo scooped up $1.1 billion CLO paper amid UK LDI crisis, officials confirm
Apollo Global Management bought a whopping $1.1 billion of triple A and double A-rated CLO paper yielding over 8% in the three weeks of elevated bwic supply in October

Past returns: Alhambra CLO paves the way
Five years ago in Creditflux, we reported that Be-Spoke Capital was launching the first SME European CLO since the financial crisis.

Points up front: CLO managers didn’t take advantage of volatility, say CLO managers
Creditflux’s CLO Census shows CLO managers can be hard on themselves

Fund performance: Wake us up when September ends
After a resurgent August, credit markets hit a rough patch in September, with every Creditflux index posting negative returns, and only 12.9% of funds in our listings showing a positive return.

Credit hedge fund returns (November 2022)
Credit hedge fund returns

US managers recalibrate as Euro CLO portfolio spreads rise: Moody's
CLO managers have had to readjust this year and data from Moody’s Investor Services shows weighted average rating factor scores for all US CLOs have held steady, while weighted average spreads have dropped 0.15%

Fund performance: August provides much-needed relief for CLO funds
.August fund performance 

Credit hedge funds (October 2022)
Credit hedge fund returns

   

US loan index falls below 92 to almost wipe out gains since July
The S&P/LSTA Leveraged Loan Index sank to an average bid of 91.92 cents by Monday, down by two points in as many weeks, wiping out almost all the gains seen in the late-summer market rally

CLO debt prices imply default rate exceeding forecasts, says Orchard Global
Current pricing of CLO debt tranches implies a default rate that is "far in excess" of the most pessimistic forecasts, according to Orchard Global Asset Management