Lord Abbett preps floating rate interval fund with monthly share repurchase
Lord Abbett Enhanced Floating Rate Fund will invest at least 80% of its assets in floating rate products including senior secured or unsecured loans, second lien debt and floating rate structured credit including CLOs

Loomis Sayles loses out as US pension shifts to higher-quality credit
Dallas Police and Fire Pension System is liquidating a loan portfolio managed by Loomis Sayles, as it reallocates assets away from high yield towards investment grade

Axa terminates $14 billion fixed income mandate with AB as it takes assets in-house
Axa has terminated a $14 billion taxable-fixed income investment mandate with AB

Italian financials put Europe's best foot forward as US outperforms
Financial credits are once again leading the way as the market continues this week’s sharp return rally

Portfolio managers wary of US default rates, IACPM survey reveals
Portfolio managers are more pessimistic about North American corporate defaults in the next 12 months than other global regions, according to the latest survey by the International Association of Credit Portfolio Managers

Credit traders’ kickstand: primary market flood gives basis for relative value
A deluge of investment grade bond supply in the first two weeks of the year has weighed on the spread basis between the cash market and CDS, leaving opportunities for traders who believe this dislocation should correct over the coming weeks

Credit traders enter 2020 a world away from 2019's opening blues
CDS markets are showing what a difference a year makes, with indices beginning 2020 at post-crisis record or near record tights. And concerns such as Brexit or US-China (and lately UK-China) tensions are doing little to dampen the mood in today's buoyant trading session

Diverging views emerge over performance of ESG investing, RBC survey reveals
Investors which incorporate ESG principles are convinced it adds value, but those who do not are more uncertain, according to a survey by RBC Global Asset Management 

Reality bites after credit traders abandon Brexit hedges
Rediscovered faith in the ability of the UK and European Union to reach an agreement before the 31 October Brexit deadline has helped fuel a surge tighter of credit spreads, led by UK financial names. But that break with caution faces an immediate reality check today, following admissions a lot more work is needed

EQT looks to raise €500 million via IPO
The initial public offering is anticipated to increase EQT's flexbility to “pursue growth opportunities” and expand its private market investing business

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

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  

Tourists have turned high yield into a sketchier neighbourhood… IG credit could be the answer
Using CDS to exploit roll-down in IG credit can generate good returns even in a low-rate environment

Tranche trading is back: relative value plays power growth
Synthetic bespoke and index tranche markets are shifting through the gears and accelerating, say investors, as an increasing prevalence of relative value trading strategies evoke dreams of the products returning to pre-financial crisis glory.

Credit traders' kickstand: synthetic credit leads the way as spreads swoop on dovish wings
Dovish comments by the European Central Bank and US Federal Reserve, along with thin bond issuance, contributed to a pronounced rally this week in credit market. But a nervy week may lie ahead as suspense grows before G20 summit talks between the US and China next Friday and Saturday

Sun Life merges asset management business to create $159 billion division
Sun Life will merge its fixed income businesses - including Prime Advisors, Ryan Labs and Sun Life Institutional Investors - under a new umbrella named SLC Management 

Index tranche levels spike as investors advance into equity
Trading of credit index tranches is picking up, with some $61 billion worth changing hands in the space during the first quarter, according to data from the Depository Trust & Clearing Corporation

Blackstone follows in footsteps of KKR and Ares by converting to corporation
The conversion is anticipated to be effective from 1 July

Texas pension fund looks to top up credit portfolio
Texas County & District Retirement System (TCDRS) has decided to increase by 3% its target allocation to strategic credit  

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

Triple B fightback has begun, says BNP Paribas
Fallen angel risk – the possibility that a wave of triple B credits could be cut by rating agencies to sub-investment grade – should begin to decline, according to strategists at BNP Paribas

CDS relative value traders shift their bets as Europe trades inside US
Credit derivative markets have hit a point of position cutting and resetting, with the iTraxx Europe index having dipped inside its US counterpart CDX IG for the first time since December even as the European Central Bank’s new funding programme underwhelmed financials traders

CIFC launches CLO fund with investment grade mandate
CIFC Asset Management is back in the market with yet another CLO-focused fund – this time, aimed at investment grade opportunities

UK pension looks to take investment grade strategy global
UK pension fund National Employment Savings Trust (Nest) has issued a search for a global investment grade corporate bond manager

$1.8 billion manager Shelton buys credit manager Cedar Ridge
The $1.85 billion multi-asset manager has bought credit-focused firm Cedar Ridge Partners