Axa IM launches multi-strat fund for pensions
Axa Investment Managers’ ‘alternatives’ business has launched an open-ended strategy for pension funds

LP round up: no Stoptober as investors allocate $5 billion to credit
US institutional investors allocated $5 billion to credit funds in October, with Oak Hill and Pimco among the biggest mandates    

Zais and BNP Paribas strike ESG breakthrough with climate change CSO
The growing theme of environmental, social and governance standards helping to revitalise the market for collateralised synthetic obligations appears to have taken a big step forward, with Zais Group and BNP Paribas partnering on a first-of-its-kind deal that could lay a template for future transactions

Ashurst boosts structured finance and derivatives practice as it brings in partner
Law firm Ashurst has hired a structured finance and derivatives specialist as a partner in its global markets practice

Brevan Howard buys stake in structured credit fund manager led by former employee
1543 Capital and Brevan Howard have strengthened their ties with market sources indicating that Brevan Howard has acquired a minority equity stake in the manager

Fund performance: CLOs lead but variety is the spice of life
.An assortment of funds have made their mark in August as five different strategies make it into our top 10 for the month

Credit hedge funds (October 2021)
Credit hedge fund returns

Credit funds at a glance (October 2021)
A round up of fundraising and people moves in credit

"I’m passionate about broader representation within investment teams"
CIP's Leila Donnachy takes our credit quiz 

Fund performance: CLOs dominate again as CIFC and Hildene score hat-tricks
CLO funds once again take over the top 10 as seven of those listed with Creditflux invest predominantly in the asset class. So far in 2021, CLO funds have held a majority of the spots in the top 10 on four occasions

Credit hedge funds (September 2021)
Credit hedge fund returns

Credit funds at a glance (September 2021)
A round up of fundraising and people moves in credit

Credit Fundraising: Blue Owl and WhiteHorse gain from improving animal spirits
Fundraising perked up in July as managers raised $14.9 billion for credit funds - the third highest monthly amount this year

Broadening SRT market defies spread compression
Credit spreads are close to all time tights — high yield, courtesy of CDX HY, recently hit its tightest level since January 2007 — but the significant risk transfer (SRT) market is one of the few pockets of credit where pricing is wide of pre-covid levels

Credit hedge funds (August 2021)
Credit hedge fund returns

King Street raises $1.2 billion for first global credit drawdown fund
The fund will target distressed and stressed corporate debt, structured products, and asset-backed investments, as well as claims and claim-related opportunities

Credit Rendezvous: And breathe...
The unanimous verdict is that credit spreads will be moving wider – they have to. But the difficulty credit fund managers face is predicting when the next sell-off comes and how sharp it will be. In the Q3 instalment of Creditflux’s Credit Rendezvous, the over-riding message from portfolio managers is that there’s little point in taking on too much risk. The report features the views of prominent credit figures including Paul Horvath (Orchard), Himani Trivedi (Nuveen), Ronnie Jaber (Onex), Graham Rainbow (Alcentra) and Michelle Russell-Dowe (Schroders). The report looks at 14 segments of the market including CLOs, direct lending, leveraged loans, distressed debt and credit derivatives.  

Fund performance: Déjà vu as April leaders dominate
CLO funds stayed in the top flight for another month as they took over the top 10 credit hedge fund return table in May, when 87% of all funds listed made positive returns

Credit hedge funds (July 2021)
Credit hedge fund returns

Ucits at a glance: Ucits stay positive for second month in a row
Ultra-tight credit spreads are not taking away from Ucits funds – 80% of funds in our database have again recorded positive returns.

Credit index tranche trading on the rise amid low dispersion
At its halfway point, 2021 is shaping up as another big year for credit index tranche trading, with new investors having entered the market and dealers projecting full-year volume could vie with 2020’s record of recent times.

CarVal exceeds target with $3.6 billion distressed credit fund
CarVal will invest in distressed credit including acquiring loan portfolios, investing in corporate securities, structured credit and hard assets

Axa IM extends palm oil policy to cover ecosystem protection and deforestation
Axa Investment Managers says it is expanding its 2014 policy of excluding investments in companies which do not have sustainable palm oil production certificates by factoring in deforestation and ecosystem protection