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 2026. All rights reserved. Available by subscription only.
Data Funds
Fund performance
Volatility hurts as most funds record negative returns
Increasing levels of volatility contributed to wide variance in fund performance in March, with structured finance and corporate distressed the only two categories that delivered positive returns on average. Two of the three structured finance funds to return performance figures made the podium amongst the top-performing funds in Creditflux’s overall index, helping that category to an overall positive aggregate return of 1.2% for March.
Overall, though, it was a negative outlook, with over 80% of the funds tracked in Creditflux’s index posting negative returns. Emerging markets funds in particular struggled, with an average return for the category of minus 3.1%.
After recording the worst category performance in both January and February, CLO funds improved their relative performance slightly. Fair Oaks’ two CLO funds, Wollemi Investments and Master Credit III, were the sole funds to post positive returns.
Creditflux index returns March (%)
Leading fund
RV Corporate Bonds Fund
Redhedge Asset Management’s RV Corporate Bonds Fund posted the best performance in Creditflux’s index for March, recording a 2.84% gain. That marked a significant turnaround on its recent performance and the fund’s first net gain since September. Year-to-date, the fund has gained 1.24%, following declines in January and February.
Launched in August 2016, Redhedge describes the RV Corporate Bonds Fund as an actively managed credit fund, employing a long-short strategy to generate steady performance with low volatility of returns, in all market conditions. The fund’s trailing-12-month performance shows an increase of 1.05%, with the fund having risen 1.28% in 2025 and 0.05% in each of the previous two years.
Two structured finance funds, Prytania’s Galene Fund and Hildene’s Opportunities Fund, were the second- and third-best performers in March, adding 1.66% and 1.20% respectively. The outstanding performer in recent months, Pictet Alt’s Distressed & Special Situations fund, gained 0.57%.
Top credit funds March (%)
RV Corporate Bonds Fund vs corporate long short cumulative returns (%)
*Estimate
See hedge fund listing notes
