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Global credit funds & CLO's
February 2023 | Issue 252
Published in London & New York.
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February 2023 | Issue 252
Data
funds
Fund performance
Fund performance
Credit funds end difficult 2022 on a positive note
In December 66% of credit funds reached a positive return, following an even better November where 81% of all funds pushed into the black. Many funds ended the year on a high-note after a tough 12 months that saw just under 20% of funds hitting a positive year-to-date return across 2022.
Creditflux index returns December (%)
CLO funds fared well in the final month as half the of the top 10 funds belong to the category. Capital Four managed to hit 4.90%, boosting its annualised return since inception to 10.67%. Switzerland-based Alegra claimed two spots, while Wasserstein Debt Opportunities was the only fund in the top 10 to hit a positive YTD return at 3.36%.
Prytania continued its success in Q4 after structured finance fund Athena hit 23.13% in November, and Plutus CLO Fund made 2.98% in December. Blueglen continued its trajectory from November where both funds pressed above 6% with the two continuing above 2.5% in December.
Leading fund
Angsana Fund
Diamond Capital’s Angsana Fund took the top spot in the final monthly fund tables of 2022. The Ucits fund made 9.56%*, helping recovery after a tough year as it hit -20.24% YTD.
Ooi Phee Lip, portfolio manager at Diamond said, “Angsana’s exposure to China, Hong Kong and Macau was approximately 40-42%. The Asian credit market extended its rally in December because of China’s reopening prospects as well as expectations of a Fed pivot. Further positive headlines in terms of fundraising activities within the Chinese property sector also contributed to the rally.”
“Our positions are diversified across travel and leisure, consumer, property and technology. We will continue to monitor the situation closely in China as it gradually eases covid restrictions. The implication of China reopening on Asia credit will be significant and positive.”
Top credit funds in December (%)
Angsana Fund vs ucits cumulative returns(%)
*Data since fund inception (Jan-11)
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