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May 2022 | Issue 245
Data
funds
Fund performance
Fund performance
Credit bounces back from February blues
March performance figures were a slight improvement from the market turn in February; 47% of funds made positive returns, an increase on 17% the previous month. Four categories were present in our top 10 this month, with credit multi-strategy and CLO funds being the most represented.
Creditflux index returns March (%)
Acer Tree and two Hellebore funds feature from the credit multi-strategy category, as Acer Tree Funds reached second place with 3.62%, helping pull its year-to-date figure to 5.67%.
After suffering in February, CLO funds returned to the top 10 as Napier Park, Fair Oaks, and Capital Four return 3.48%, 2.46% and 2.23% respectively to lead the category.
After two months at the top of the table, it is little surprise that Ayaltis’s Areca Value Discovery Fund leads the year to date figure at the end of Q1. With 8.19% YTD after two successful months, the fund is ahead of Acer Tree at 5.67% and its other credit fund of funds, Narrapuno Spectrum, on 5.18%.
Leading fund
Areca Value Discovery Fund
For the second month in a row, Zürich-based Ayaltis took the top spot as Areca Value Discovery Fund made an estimated 4.50%. This propelled the fund into first place in 2022 with 8.19%.
Andrea Luzzi, chief executive officer at Ayaltis, says: “This was an excellent quarter for the fund and, notably, for the vast majority of our individual positions despite a very tumultuous start of the year for almost all asset classes.”
“The result for our fund is remarkable because it underlines the ideal balance in truly diversified idiosyncratic opportunities, across all asset classes, confirming to be as devoid of generic beta as can possibly be: an ideal structure for our fund to enter into what most sophisticated investors (and increasingly central bankers) understand to have become a very difficult period for markets.”
Top credit funds in March (%)
Areca Value Discovery Fund vs credit funds of funds total returns (%)
*Data since fund inception (December-08)
**Estimates
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Global credit funds & CLO's
May 2022 | Issue 245
Published in London & New York.
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