January 2022 | Issue 241
Data
funds
Fund performance
Fund performance
CLO funds deliver again, but third of all funds post losses
CLO funds took six of the top 10 spots in October in a continuation of the previous month’s strong performances. However, a consistent showing from Wasserstein in the US high yield category has claimed the top spot for the last two months.
Creditflux index returns October (%)
BK Opportunities Fund IV leads the way for CLO funds at 3.09%, taking its year to date figure to 17.26%, while Oxford Gate Master Fund and Wollemi Investments followed with 2.58% and 2.31%, pulling their 2021 numbers up to 28.08% and 20.48%, respectively.
But there was a drop in overall positive returns as only 67% of funds made it into the black, compared to 79% in September. However, at least 15% of all funds pushed above 1% in October.
Structured finance and credit multi-strategy funds made up the last few places in the top 10, represented by EJF, Hildene and Corbin. The funds pushed their YTD figures up to 19.11%, 22.33% and 15.82%, respectively.
Leading fund
Wasserstein Debt Opportunities Fund
For the second month in a row and third time this year, Wasserstein Debt Opportunities Management has taken first place in the Creditflux hedge fund tables. In October, the fund gained 5.76%, solidifying its position as the top performing fund in 2021 with 48.85% gains.
Founder and chief investment officer Rajay Bagaria says: “2021 performance reflects a high win rate and successful exposure management. Our largest positions were the largest percentage gainers, we held cash over shorts and we were able to focus on money-making over month-end marks given the quality of our LP base.”
The fund launched in May 2013, is absolute return oriented, focuses on corporate high yield bonds and leveraged loans, and now has an annualised return since inception figure of 12.36%.
Top performers in October (%)
Wasserstein Debt Opportunities Fund vs US high yield cumulative returns (%)
*Data since fund inception (May-13)
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Global credit funds & CLO's
January 2022 | Issue 241
Published in London & New York.
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