Relief rally follows relative value trading on US/Europe credit and tranches
Credit markets look set to end the week on a cautious retracement tighter, after several sessions of heavy reminders the coronavirus crisis is far from over and that sector/geographical selection remains important

Basis and capital structure strategies zing for Xaia as market anomalies multiply
April was another challenging month for most funds. But some managers were able to take advantage of relative value opportunities and growing investor appetite for this form of investment strategy

Fund performance: CLO tranches move up
April returns managed a partial bounce back after a tumultuous March. 82% of funds listed in the Creditflux database made positive returns, showing at least small signs of recovery after 90% of all funds listed posted negative returns in March

Credit funds at a glance (June 2020)
A round-up of fundraising and people moves

Ucits at a glance: Ucits begin recovery phase
April returns prove positive for Ucits funds as 85% of those listed in the Creditflux database have moved into the black after a rough March

Axiom freezes credit exotics fund as volatility roils CDS market
Citing market volatility, Axiom Alternative Investments has suspended subscriptions and redemptions to a fund that invests in credit derivative products such as indices, tranches, options and single name CDS

Credit Rendezvous: the outlook in 2020 across a dozen segments of the credit market
Welcome to the Credit Rendezvous, the first instalment of a regular feature published by Creditflux that tracks credit market dynamics in a dozen segments from investment grade, liquid loans, CLOs and CSOs all the way through to distressed debt. We view this as the meeting point for credit specialists across strategies to share their perspectives

Ucits at a glance: Ucits continue to chart a steady course

Ucits at a glance: ucits continue to chart a steady course

Ucits at a glance
A round-up of ucits fund performance

Buy iTraxx Europe equity tranche risk but sell Crossover mezz, says JP Morgan
Investors should stick with ‘search for yield’ ideas in investment grade credit, say JP Morgan credit strategists, including selling iTraxx Europe 0-3% equity tranches delta hedged, going long the 10-year Europe index, and selling credit volatility through index options while buying equity market volatility

Investor requirements rather than performance is driving ESG push: Creditflux survey
Only 14% of respondents to Creditflux's global credit ESG survey said performance was the main reason they were adopting envoronmental, social and governance-themed strategies

Cairn teams with Mediobanca for European credit Ucits fund
The strategy will focus on four credit asset classes - financials, corporates, asset-backed securities and special opportunities 

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

Axiom puts tranches at core of push into synthetic credit
Axiom Alternative Investments is set to target both index and bespoke tranches with the launch of Axiom Synthetic Credit Opportunity Fund.

Jefferies creates team and aims to build CSO business
Amid mounting buy-side interest in the synthetic CDO market, sources say that Jefferies is looking to build a US business arranging these transactions  

BlackRock becomes latest manager to explore interval fund structure for credit
Several managers have hit the market with the interval fund structure, as investors look to invest in illiquid strategies through an illiquid fund structure

Partner leaves Cheyne after five years at the firm
A marketing official, who has covered loan funds and synthetic credit strategies, has left Cheyne

BNP Paribas hires experienced structured credit trader in London
BNP Paribas has hired structured credit trading specialist James Moi to its business in London  

Cheyne more than doubles assets for credit fund in five months
Cheyne Capital has more than doubled assets for Cheyne Total Return Credit Fund December 2023 – in the space of just five months

BlackRock seeks $1 billion for new multi-strat opportunities fund
The new trust will invest at least 80% of its assets in fixed income securities and up to 40% in special situations, SEC filings reveal 

Hermes launches £185 million unconstrained credit fund
London-based Hermes Investment Management has launched a new Ucits-compliant unconstrained credit fund - which will include pricing ESG risks

Destra and BlueBay team up to launch credit interval fund
Destra has become the latest manager to launch an interval fund - Destra International & Event-Driven Credit Fund - which will focus on two strategies: multi-strategy international credit  and event driven credit. 

Anchorage wins $75 million ticket for global credit fund
A US pension fund has approved an investment in the upcoming Anchorage credit fund

Cairn works reg cap and eyes another fund launch
Cairn Capital’s regulatory capital relief business is up and running, with the firm closing its first deals late last year