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Can someone call the triple A? We’ve stalled
1 year ago
CLO issuers are in need of AAA roadside assistance. Despite the emergence of new buyers, a lack of senior CLO investors — particularly US banks — has brought the primary market to a halt -
CLO wormhole opens as deal pricing blurs
2 years ago
The CLO prints you see today might have happened a month ago. No, we’re not travelling back in time. Instead, a trend toward locking in senior notes a month early is skewing market pricing -
Answering the “what if?” question
3 years ago
CLOs can be complex, and efficiently calculating trading scenarios even more complex. But new tools are available to help managers quickly model hypothetical scenarios -
Relative value plays swell secondary
3 years ago
The secondary CLO market has been revived this year as volumes shatter 2019 totals. Investors are finding that secondary values outweighs that in primary, with the added bonus of full portfolio disclosure -
It’s been a while — how’s tricks?
The primary CLO market has been open since April, but 41 managers have not managed to price a US CLO in over a year and a lack of access to equity capital means they may struggle to return3 years ago -
CLOs at a glance: CLO primary market grinds to a halt
4 years ago
A round-up of CLO performance -
Fund perfomance: Slowdown for some as pandemic takes hold
A round-up of fund performance4 years ago -
In 2019, some CLO managers hoped that good timing would enable them to lock in favourable arbitrage levels, but others opted for aggressive or conservative tactics when building portfolios4 years ago
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Fund performance: CLO funds pick up where they left off
4 years ago
A round-up of fund performance -
CSAM sees sun after nine years in shade
Credit Suisse Asset Management has become the leading CLO manager by assets under management globally after finally topping perennial leader GSO Capital Partners. However, CSAM's lead is the size of just one CLO4 years ago -
Fund performance: Presents under the tree as CLO funds perform
A round-up of fund performance4 years ago -
Fund performance: Long-short funds rule in October as CLO funds struggle
4 years ago
A round-up of fund performance -
Fund performance
4 years ago
A round-up of fund performance click here. -
Fund performance
4 years ago
A round-up of fund performance -
Fund performance
4 years ago
A round-up of fund performance -
CLO investors should be looking at CSOs
At Creditflux’s Credit Dimensions event in New York, structured credit investors were told how synthetic CDOs fit neatly alongside CLOs, and there is no need to pick one over the other4 years ago -
Investments in CSOs can be more fruitful than in CLOs
Some CSO tranches may off er better returns and provide exposure to higher-rated credit than similar tranches of CLOs. Also, the CSO term curve is steeper and more stable than that of CLOs4 years ago -
A round-up of CLO performance
4 years ago -
A round-up of fund performance4 years ago
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CLOs at a glance
5 years ago
Managers focus on AUM building via new issues -
Keep calm and buy corporate loans
5 years ago
Calm heads prevailed in 2018. Markets were volatile and risk retention was supposed to cause problems, but there was no need to panic and volumes went on to break records set in 2014 -
Europe adapts to harsher CLO climate
5 years ago
The European CLO market survived the financial crisis and ensuing risk retention obligations. Conditions remain tough, but we expect a 25% increase in the number of active managers -
Buy and hold isn’t only option for CLO equity
5 years ago
New US CLO equity is being more regularly flipped into b-wics. Figures suggest that equity pieces of 2017 and 2018 US deals made up 22% of the b-wic market over the past four quarters -
Widening whisks market back to 2017
5 years ago
Right now, CLO volumes are healthy and the list of active managers is steadily growing. But with CLO liability spreads reverting to where they were a year ago, some issuers are a little nervous. -
Who predicted $145 billion of issuance?
6 years ago
That went better than expected: US risk retention came in, and $145 billion of global new issuance later, it’s clear that CLOs aren’t disappearing. By Tanvi Gupta and Sam Robinson
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