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Data Funds
Fund performance
Smaller gains in May moderate strong April performance
While the majority of categories in Creditflux’s fund index recorded gains in May, the level of increases were generally well down on those seen in April. Credit funds of funds recorded an outsized 2.91% gain, underpinned by Pictet Alt’s Pleiad Credit Opportunities Fund, while corporate long-short and structured finance both recorded average 1.59% gains to fill out the sector podium.
While CLO funds recorded an average 1.16% gain for the month, the category overall showed an average 1.96% decline for the year-to-date, and only a 1.81% gain over the previous 12 months, following bottom-of-the-table sector performance in the first two months of the year.
Hildene Opportunities Fund took over as the index’s leading trailing-12-month performer. It recorded a 20.88% return over that period. This put it just ahead of Advent Global Partners UCITS Fund, on 18.88%.
Creditflux index returns May (%)
Leading fund
Octagon Senior Secured Credit Fund
Octagon’s Senior Secured Credit Fund had a banner month in May, returning an estimated 5.20% — its strongest monthly performance since its inception in February 2012. Including May’s gain, the US high yield fund returned 5.39% for the year to date and 8.92% over the previous 12 months.
The fund invests primarily in broadly syndicated floating rate US bank loans.
In Creditflux’s fund index, US high yield returned an average of 6.49% over the previous 12 months. The average monthly return for May for the sector totalled 1.61%.
CIFC’s CLO Opportunity Fund IV returned an estimated 4.63% to deliver the runner-up fund performance for the month, gaining an estimated 4.63%. Elsewhere in the top 10, Blueglen Investment Partners had a strong showing, with its three funds numbering among the top eight overall.
But the strongest recent trailing-12-month performer, Pictet Alt’s Distressed & Special Situations fund, struggled in May, declining 4.13%.
Top credit funds in May (%)
Pleiad Credit Opportunities Fund vs credit funds of funds cumulative returns (%)
*Estimate
See hedge fund listing notes
