Seasoned US CLO managers have added value, but not much, according to our research
Our latest research looks into one aspect of active CLO management - how much alpha managers are actually generating. According to our findings, US CLO managers have been successful in adding some value for their investors.

Fund performance
Positive August for credit sees CLO funds on top again

Credit hedge funds
Credit hedge funds performance data

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

Credit hedge fund returns (September 2023)
Credit hedge fund returns  

CLO funds are hot in summer as they take nine spots in top 10 (Fund performance)
CLO funds took the lead through summer as the returns of the category index reached 1.88% and 3.18% in June and July, respectively. Both months saw a CLO fund as the top performer — Sound Point Meridian in June, and Oxford Gate Master Fund in July.

Print and sprints from 2022 generate near record returns
A select group of print and sprint CLOs that priced in the summer of 2022 are generating near-record IRRs on the back of the rally in the loan market over the past 12 months. The CLOs in question were structured with one-year non-call periods and were liquidated in August.

Large CLO managers outperform their smaller peers
Size does matter according to our latest research that finds that larger US CLO managers have consistently outperformed their smaller counterparts.

Credit hedge funds
Credit hedge funds performance data

Credit funds at a glance
Fund performance, fund raising and LP commitments

Jump in loan prices sees CLO primary stall in the US
US CLO primary supply almost ground to a halt in June with just three transactions printing in the first half of the month

Credit funds at a glance
Fund raising and people moves

Credit hedge funds
Credit hedge fund returns

Fund performance
A roundup of fund performance

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.

CLO funds make best of a bad situation
It can’t get any worse can it? Well, it did in 2022, when credit spreads kept moving wider. Still, CLO funds were able to withstand the pressure, and they outperformed other credit strategies

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

Chance of CLO refis and resets returning this year despite volatility, says Oxford Funds
CLO refinancing and reset activity could return in limited situations later in 2023 despite the ongoing uncertainty around the economy

Large CLO investor sells three post-reinvestment anchor equity positions
Three control equity positions were on sale on Thursday at 9am EST (2pm GMT) in the same list. The bwic listing was made up of three 2017 US CLOs, all of which are post-reinvestment and have not been reset in the years since

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