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Data Funds
Fund performance
All categories end 2025 positively as Pictet Alt takes 12-month crown
All types of funds tracked by Creditflux’s fund index ended the year with positive average returns in December, with every fund class aside from corporate distressed and corporate long-short improving on their November performance. Credit funds of funds led the way from structured finance, with emerging markets just edging out US high yield for the final podium spot.
For full year performance, meanwhile, credit funds of funds took the top spot with a 12.68% average return, beating out emerging markets and corporate distressed.
Over the course of 2025, Pictet Alt’s Distressed and Special Situations fund delivered the strongest cumulative performance, yielding 19.36%. That put it 1.37% in front of Hildene Opportunities Fund, which rose by 17.99%, and Blueglen Opportunities Credit Fund I, which rounded out the top three with a 12-month cumulative rise of 17.89%.
Creditflux index returns December (%)
Leading fund
Alegra CLO Opportunities Fund
Alegra had a banner month in December, claiming the two top positions in Creditflux’s top 10 monthly fund rankings. Alegra CLO Opportunities Fund delivered an outstanding 5.80% increase for the month, with Alegra ABS 2 delivering 2.03%.
The chart-topping result for Alegra CLO Opportunities Fund is its best monthly result since July 2023. The fund, which launched in December 2020, delivered a total return of 12.38% over the course of 2025. While that made it the strongest-performing CLO fund for the year, the 12-month result is significantly down on the fund’s performance in 2023 and 2024, when it returned 31.09% and 32.13%, respectively. The fund’s annualised return since inception comes to 12.78%.
Overall, the CLO funds tracked by Creditflux delivered an average return of 4.78% for 2025.
Founded in Switzerland in 2003, Alegra Capital was formed to manage funds dedicated to the CLO asset class and is noted for its expertise in CLO equity risk and asset-backed lending.
Top credit funds December (%)
Alegra CLO Opps Fund vs CLO funds cumulative returns (%)
*Estimate
See hedge fund listing notes
