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Fund performance: European CLO funds lead the way
1 year ago
February was a positive month for many funds, as only one quarter failed to reach the black. This builds off a stellar start to the year: 96% of funds reached a positive return in January -
Fund performance: Credit funds end difficult 2022 on a positive note
1 year ago
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
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 -
Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
1 year ago
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale -
Fund performance: August provides much-needed relief for CLO funds
1 year ago
.August fund performance -
Beneath the triple C: US CLOs take a dip in the triple C as Europe watches from the sun lounger
1 year ago
The US CLO market bore the brunt of downgrades to triple C in July and August, with a total of $6.22 billion of paper affected. European CLOs enjoyed a more relaxing summer holiday, with only 1 name representing €33.88 million worth of bonds downgraded to triple C. -
CLOs keep eyes glued to screen as Cineworld previews possible chapter 11
1 year ago
Cineworld, the UK-based cinema giant, has announced that a chapter 11 restructuring is among the options it is considering, in response to recent media speculation about a possible default -
Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
1 year ago
Following a rising tide of downgrades in May the loan market stabilised somewhat in June, with seven issuers held by CLOs downgraded to triple C and a counter-swell of five names upgraded to single B. -
Manager selection stakes are heightening as CLO pain points intensify: Barclays
1 year ago
CLOs’ slump in market value and piling of distressed assets have made differentiation between managers much more acute on key metrics, regionally and by vintage, according to Barclays credit strategists -
Beneath the triple C: CLOs take first knock since covid scrapes
2 years ago
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May -
Fund performance: Credit hits another bump in the road after March revival
2 years ago
There was more upheaval for credit funds in April, reversing the mini-recovery in March as 40% of funds made positive returns, a decrease on the 47% in March -
Fund performance: Groundhog Day as 2021 leaders start strong
2 years ago
CLO funds once again claim the most top performing spots as seven out of 10 funds belong to the category -
Beneath the triple C: resurfacing credits surpass divers as tide turns for CLOs
3 years ago
Upgrades above triple C overtook downgrades to that rating or below in February. Moody's or Standard & Poor's cut six corporate debt issuers to triple C or below in February, out of which just four can be found in CLO portfolios -
Fund performance: CLO funds pick up where they left off
3 years ago
New year, same funds leading the way with CLO strategies the top performers in January -
Ucits at a glance: Advent ends calendar year on top
3 years ago
Ucits ended 2020 on the rise as 89% of funds achieved positive returns in December -
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 -
Ucits at a glance: Year-to-date returns head for double figures
3 years ago
Ucits funds generally performed well in October as 75% achieved positive returns -
[update] Beneath the triple C: theme parks take portfolios on downward ride
3 years ago
Seven corporate debt issuers were downgraded to triple C or below in September by Moody’s or Standard and Poor’s – hurting $2.16 billion of US CLO loans and €1.16 billion of European CLO portfolio. The pace of CLO loan downgrades to triple C has slowed steadily since the peak in April -
LP round up: $5 billion flows to credit as private market allocations increase
3 years ago
Global institutional investors allocated nearly $5 billion to credit funds this week, according to documents seen by Creditflux -
Fracking servicer FTS files for chapter 11 protection
3 years ago
Fracking servicer FTS International filed for chapter 11 protection in the US Bankruptcy Court for the Southern District of Texas Houston yesterday. The credit is not widely featured in CLOs with only nine managers holding $47.9 million of FTI’s term loans -
Credit fundraising: distressed keeps in favour but CLO ETFs emerge
3 years ago
Five months into global lockdown and distressed debt funds are still proving popular, but several managers have found success pitching other types of credit strategies -
CLOs stuck with $100 million of bankrupt TNT Crane's debt
3 years ago
14 CLO managers hold $92.5 million debt of TNT Crane & Rigging, which filed for chapter 11 protection in the US Bankruptcy Court For The District Of Delaware yesterday -
Azimut purchases 20% stake in US private credit manager
3 years ago
Azimut Group has purchased a 20% equity stake in a $2.1 billion opportunistic private credit manager -
Fund performance: CLO funds keep up the momentum for second month running
3 years ago
May returns have been led by continued momentum from CLO funds. In the last month, funds that invest in CLO notes in some capacity have made up 90% of our top 10, while 97% of funds listed generated positive returns - an improvement of 15% on last month's figures.
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