Banks predict steady year ahead
It’s the season for predictions and the CLO market is no exception, with all the banks having their say. We’ve rounded up their forecasts for new issuance and resets in the US and Europe

Treble top: CSAM wins best manager again
Returning to the Landmark Hotel in London, the 2023 Creditflux manager awards looked back at a year that saw the CLO market in flux. After the stability of 2021, the markets hit a rocky patch and US CLO triple As ranged from 110-290 basis points.

Arb work pays off
With day-one arbitrage alone delivering projected CLO cash-on-cash returns of 20-25%, 2021 may have been the best year ever for equity investors — at least until CLO spreads began to widen  

Investing ethically is worth it
Managers could see less volatile returns as a result of their increasing adoption of ESG-friendly portfolios; meanwhile direct lending is spreading across Europe