Listen to the latest episode of Credit Exchange with Lisa Lee
Published in London & New York
10 Queen Street Place, London
1345 Avenue of the Americas, New York
Creditflux is an
company
© Creditflux Ltd 2025. All rights reserved. Available by subscription only.
Data Funds
Fund performance
All fund categories head back into the black after two tough months
After two challenging months, fund performance in May saw a marked improvement, with all 10 categories in Creditflux’s index showing positive returns.
After registering the worst overall category performance in April, with an average return of -1.65%, CLO funds jumped to the top of the rankings in May, returning an average of 2.23%. CLO funds accounted for four of our top 10 performing funds, including top performer Oxford Gate Master Fund.
Credit multi-strategy funds ranked second for the month with an average 1.71% return, rebounding from a −0.57% average performance in April. Structured finance also showed marked improvement, with a 1.50% average return after declining an average of 1.14% the previous month.
Corporate distressed performance went in the opposite direction. After topping the table last month, it fell to the bottom of the pack in May.
Creditflux index returns May (%)
Leading fund
Oxford Gate Master Fund
Oxford Gate Master Fund led a strong overall performance from CLO funds in May. The fund, which invests primarily in US CLO equity tranches, junior debt tranches and warehouse equity investments, returned 6.71% for the month. It ranked ahead of structured finance fund Tabula Structured Credit Income Fund and another CLO fund, CIFC CLO Opportunity Fund III.
Notwithstanding last month’s strong performance, however, the Oxford fund remains down by 6.07% year-to-date. That’s on account of three consecutive months of negative performance from February onwards, including a decline of 6.18% in March and 5.21% in April.
Launched in November 2018, the fund has achieved an annualised return since inception of 10.26%, with a return of 0.87% over the past 12 months.
Founded in 2002, Connecticut-based Oxford Funds is the parent company of credit-focused investment advisers that manage funds investing in US CLO equity and junior debt, as well as syndicated corporate loans.
Top credit funds in May (%)
Oxford Gate Master Fund vs CLOs cumulative returns (%)
See hedge fund listing notes
