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"The lack of standardised ESG data creates opportunities for data-driven investors"
3 years ago
Investors can gain an edge by using technology to help parse ESG data -
Past returns: Hedging is back
3 years ago
Ten years ago in Creditflux we reported that loan managers had begun hedging after loan prices stabilised back to par following the global financial crisis. These loan managers were worried about future loan slumps and began using credit options and ETFs -
Points up front: Abrdn finds text appeal
3 years ago
Marketing consultants have been working overtime to concoct new brand names, but their efforts have not been met with universal acclaim -
Points up front: The flattest term curve - work anniversary rewards
3 years ago
If you think CLO term curves are flat with a handful of basis points between three and five-year triple A CLOs, then you haven’t seen anything yet -
"Why can’t loans and CLOs simply move to three-month treasury bills as our reference rate?"
3 years ago
Sofr may be touted as Libor’s natural replacement, but the best known rate in the world is also an option -
"The heterogeneous set of KPIs make comparisons difficult and self-policing hurts credibility"
3 years ago
Loans with ESG ratchets are popular and a good way to align incentives – but we need accountable external reviewers -
We say it: Creditflux salutes women in credit
3 years ago
The credit industry is blessed with many strong women and for this issue of Creditflux we’re exclusively hearing their voices across our news, analysis and columns -
A transformational framework means fund managers have to drive real-world change
3 years ago
There are managers who make transformational investments, those who incorporate ESG and those who do nothing -
CLO naysayers have made arb and cov-lite into dirty words — that should now change
3 years ago
Recent performance has shown that cov-lite loans and challenging arb don’t spell doom for CLOs -
Points up front: Revlon repayment was Bad Day at the office
3 years ago
Making light of a situation is a good coping mechanism when things don’t go as expected. The Revlon loan repayment saga has underlined this with court filings revealing how CLO portfolio managers reacted to what Citi purported was a ‘mistaken’ $900 million paydown of Revlon loans -
The tide has turned… the solution for investors is to move into floating rate loans
3 years ago
2020 was the year of fixed-rate bonds, but treasury curves are steepening and demand for loans is heating up -
They said it: "I am extraordinarily proud of the firm I have helped build"
3 years ago
Apollo chief executive officer Leon Black announces he is stepping down. -
The imperfect incorporation of ESG is no excuse not to act
3 years ago
Managers’ legal ESG responsibilities may be vague, but they must still set up a credible strategy -
We need to remove CLO misinformation from the market
3 years ago
Vibrant's Kashyap Arora takes our credit quiz -
All types of financing will have to incorporate ESG risks and use their real economy influence
3 years ago
Fund managers can no longer ignore, postpone or hide from measures to tackle climate change -
Perhaps 2021 will be the first year of the next expansion
3 years ago
For 2021, our columnist is focused on Libor transitions, CLO flexibility and loan managers fighting among themselves -
Cessation of activity mid-December is an opportunity to switch off… and let the mind wander
3 years ago
Welshcake is grateful for a lull in credit markets. The downtime has inspired him to dream up a CLO play -
The cost — a few basis points — is modest compared to the potency of bond buckets
3 years ago
If CLOs had bond buckets when Delta Air Lines issued debt, a manager could have bought the bond then rotated into the loan -
CLO collateral managers who are able to update their documents could gain warf advantage
3 years ago
Moody’s is reviewing its approach to warf. Changes could boost managers’ ability to trade -
Questions will need answering about where a manager's fiduciary responsibility lies
3 years ago
A university lecturer gives Welshcake a shock with a CLO presentation that points to shady trading games -
They should have followed Revlon's Double Twist mascara slogan of 2009: "It's worth a double take"
3 years ago
Blockchain might not eradicate all problems in credit, but it should reduce human error -
They said it: "We’re going to change the world of finance"
3 years ago
Big ambitions in blockchain -
Points up front: How much do I owe you?
3 years ago
Payment systems in the credit industry had a bad August -
They said it: "Imagine a garden party and all of a sudden a big wasp shows up"
3 years ago
On Creditflux’s US CLO webinar last month, Napier Park’s head of US CLO investments Serhan Secmen described the March sell-off as a garden party -
They said it: Can I be a bond investor and invest in Netflix?
3 years ago
The response of a loan portfolio manager after we asked where should loan investors park their cash?
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