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Data Funds
Fund performance
April returns show small improvement, but CLO funds struggle
The top three Creditflux indices recorded positive returns for April — albeit only just. In another challenging month for investors, 70.80% of tracked funds showing negative returns, a small improvement on the 73.55% in March.
Corporate distressed performance led the way, although this was driven by another strong performance from Pictet Alt’s Distressed & Special Situations Fund, which was up 2.24%.
Corporate long-short showed an improved performance compared to March. Funds in this category recorded an average return of 0.08%, with Axiom’s Credit Opportunity fund up 2.33%.
Credit funds of funds rounded out the top three. Their average monthly return was 0.06%.
At the other end of the ledger, CLO funds had a poor month, yielding an average loss of 1.92%. Only two funds of 27 — from Fair Oaks and Crystal Fund — recorded positive returns for April.
Creditflux index returns April (%)
Leading fund
Hildene Opportunities Fund
Hildene Capital Management’s Hildene Opportunities Fund was the top-performing fund for April, posting a 2.72% return for the month. This takes the fund’s cumulative returns for the year to 6.21%, which also makes it the top-performing fund across all categories so far in 2025.
The structured finance fund has maintained positive returns for the past 14 months. Its 12-month return is 20.90%.
Founded in January 2008, Hildene is a diversified asset manager specialising in asset-based credit and credit opportunities. The firm manages more than USD 16bn across its portfolio of private funds, managed accounts and securitised asset structures.
Hildene Opportunities Fund launched in May 2008 and has delivered an annualised return since inception of 15.12%.
Top credit funds in April (%)
Hildene Opportunities Fund vs structured finance cumulative returns (%)
*Estimate
See hedge fund listing notes
