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Credit hedge funds
9 months ago
Credit hedge funds performance data -
Credit funds at a glance
9 months ago
Fund performance, fund raising and LP commitments -
Fund performance
10 months ago
A roundup of fund performance -
CLO funds make best of a bad situation
1 year ago
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 -
Are we ready for another crisis?
1 year ago
Credit managers must brace themselves for stress in 2023, as rates rise and the number of poor performing assets increases. But most CLOs look well-placed and can rely on plump OC cushions -
What matters is what you do with it
1 year ago
CLO managers yearn for flexibility so they can take advantage when credit sells off. But it isn’t enough on its own: triple C-flex CLOs saw portfolios erode this year, while CBOs outperformed -
A fresh approach to loss distribution
2 years ago
Considering how cash balances change over time, loss distribution models can look very different to conventional thinking. So is your CLO’s pricing based on incorrect assumptions? -
Still plenty more fish in the triple C
US CLO triple C buckets are lighter than a year ago thanks to the wave of loan upgrades from Moody’s and S&P. But 48% of downgraded paper is yet to return to a coveted single B rating2 years ago -
Moving fast pays off for hedge funds
3 years ago
2020 was an up and down year in credit, and credit hedge fund managers had to move quickly to capture opportunities from the dislocations that inevitably opened up -
CLO issuers flex their bond muscles
3 years ago
Some panellists at Creditflux’s US CLO Investor Summit pointed to structural difficulties, but the consensus was that flexibility — particularly the ability to buy bonds — could improve performance -
Trading places: it can pay to bet on the little guy
3 years ago
It’s assumed investors know how good a CLO manager is by the rate at which they trade their way through a crisis. But this time fi ve small, nimble managers are outperforming the market -
Europe’s newcomers find ways to stand out
3 years ago
Last year’s new European CLO managers needed to provide something different for investors. In general, they’ve succeeded, with Capital Four having one of the smallest overlap figures in our data -
A different kind of crisis
3 years ago
Panellists on Creditflux’s US CLO webinar were positive about the robustness of CLO structures and the role of cure contributions. But they warned about zombie defaults and gaming tests -
Credit pickers need luck to avoid OC trap
3 years ago
We know what you’re thinking: is my CLO failing its OC test? The truth is, in all this volatility, it can be hard to keep track, unless your deal has high quality liquid loans
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Credit hedge fund returns: March 2020 stats
3 years ago
Monthly performance across credit hedge funds -
Fund performance: Index tranche investors make it work from home
3 years ago
March brought a drastic drop in return figures as covid-19 swept across the globe, as Orchard tops the Creditflux performance tables -
Ucits at a glance: Long-short credit capitalises on coronavirus
3 years ago
Ucits funds were not spared from the crash in mid-March, but Pictet outperforms -
We’ve survived before, we can do so again
$7.8 billion of CLO collateral, split evenly between the US and Europe, is in the loans that have fallen fastest in the past month. But short term CLO pain will bring opportunities for building par4 years ago -
A round-up of fundraising and people moves in credit
4 years ago -
Ucits at a glance: Long-short approach lifts Pictet to the top
A round-up of ucits fund performance4 years ago -
Fund perfomance: Slowdown for some as pandemic takes hold
A round-up of fund performance4 years ago -
Dispersion tests hedge fund managers
Credit hedge funds with the ability to go long and short the market were the top performers last year. But dispersion made it possible for fund managers to eke out value across many sectors4 years ago -
CLO managers don’t always prioritise profits
Research into CLO trading by professors Florin Vasvari and Maria Loumioti leads them to believe that, when CLOs are bound by strict constraints, managers tend to focus on ‘compliance trading’4 years ago -
Credit funds at a glance
4 years ago
A round-up of fundraising and people moves in credit -
Fund performance: CLO funds pick up where they left off
4 years ago
A round-up of fund performance
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