Credit hedge funds (May 2021)
Credit hedge fund returns

Ucits at a glance: Altana moves into pole position
March marked a drop in pace for Ucits funds as only 62% of funds made positive returns, compared to 80% in February

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

CSOs and index tranches reach sticking point as correlation gets rich
Credit correlation trading looks to have reached a point of inflexion, as the previous bull run at the lower end of index capital stacks has given way to caution over how much further spread compression can go. At the same time, bespoke tranche business is gaining interest but equity remains stickier to sell at the market's ultra-low spread and volatility levels

Permira's credit CIO Kyriakoudis to retire by end of year
Permira Credit’s former chief investment officer Thomas Kyriakoudis will retire from the firm at the end of the year to pursue entrepreneurial opportunities

Carlyle senior credit investor joins fintech firm as CFO
An experienced credit investment professional at the Carlyle Group has moved to become chief financial officer at fintech company NoviCap

BlueBay confirms hire in structured credit and CLO management team
The new appointment will focus on investing in US and European structured credit securities across the capital structure

Credit Rendezvous: ready and waiting
In Creditflux's quarterly review of credit, portfolio managers tell us that Inflation is likely to nudge higher but they are optimistic because dispersion will pick up and windows of volatility will emerge, rather than elongated phases of stress 

Senior structured credit portfolio manager tipped to join BlueBay in London
BlueBay Asset Management is close to filling a gap on its structured credit portfolio management team

Permira promotes five in credit team to MD including head of structured credit
Permira Debt Managers has promoted five members of its credit team to managing directors 

Ex-JP Morgan portfolio manager joins boutique as head of structured credit
A portfolio manager who worked in JP Morgan's chief investment office (2008-2014) and with experience across macro credit trading, relative value, index tranches, options and CSOs has resurfaced on the buy side

Credit fundraising: Goldman Sachs direct lending fund takes March figures to $23 bn
Credit funds sprung forward in March as $23 billion was raised alongside $2.6 billion worth of allocations to credit managers. 

Another structured credit PM leaves BlueBay
The departure follows Creditflux reporting on a separate structured credit portfolio manager exit

Fund performance: assortment of funds step up
Seven categories are represented in this month’s top 10, making it the most diverse since February 2020

Credit funds at a glance (April 2021)
A round-up of fundraising and people moves

Ucits at a glance: Advent and Algebris lead the pack again
Ucits funds saw the brighter side of February, as 80% of funds achieved a positive return

Credit hedge funds (April 2021)
Monthly credit hedge fund tables

Sandalwood funds of credit funds outperform in February
Credit funds of funds came out on top in February, a month characterised by the sell off in US treasuries

Points up front: Navigating lockdown easel-y with brush in hand
The various periods of lockdown over the past 12 months have provided time for credit professionals to tap into their creative side, and Schroders’ head of securitised credit Michelle Russell-Dowe has taken full advantage

"Watch the IG credit curve — we may see steepening of IG 5s10s and flattening of 10s30s"
Stimulus measures are supporting short tenors, and pension demand for 30-year paper is strong, so 10-year IG credit may have few buyers

"We have to think about the influence of social media like Reddit"
Schroders' Michelle Russell-Dowe takes our credit quiz

LP round-up: $2.6 billion flows into 26 credit managers
A stuck ship in the Suez Canal may have prevented others from getting through one of the world's busiest waterways in March, but allocations to credit funds were much more free flowing as investors poured over $2.6 billion into the hands of credit managers

DE Shaw amasses $1 billion for stressed and distressed assets
The fund will invest in stressed and distressed assets, financings, and special situations opportunities

Creditflux announces new date for Manager Awards
Creditflux can announce we will hold our annual Manager Awards ceremony on 8 September. This is later than usual in the year, but should allow the event to take place in person and following the Credit Symposium, as it has historically