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Data Funds
Fund performance
CLO funds struggle while other categories stay positive
The strong performance of Pictet Alt’s Distressed & Special Situations Fund helped propel corporate distressed to the top of Creditflux’s category rankings in September. The fund returned 3.36%, helping turn around corporate distressed’s last-place ranking the previous month.
Pictet had an excellent month all around. Its Pleiad Credit Opportunities Fund turned in a good performance and helped the credit funds of funds category deliver a 2.71% return. Emerging markets funds completed the sector podium, returning an average of 1.0%.
In contrast, half of the CLO funds tracked by Creditflux made negative returns, with the average return just negative, too. Crystal Fund’s BK Opportunities Fund VII was the best CLO fund performer, delivering an estimated 1.01% for the month. The strongest performer over the past 12 months was Hildene Opportunities Fund at 17.96%.
Creditflux index returns September (%)
Leading fund
Advent Global Partners UCITS Fund
Advent Global Partners UCITS Fund delivered a standout performance in September. Its monthly return of 5.18% was more than 1.8% ahead of any other fund in Creditflux’s index, and almost 3.3% ahead of the next-best UCITS fund, Tabula’s Liquid Credit Income UCITS Fund.
The average September return for UCITS funds tracked by Creditflux was 0.46%.
Launched in July 2016, the fund’s September performance was its best since December 2023. For the year-to-date, the fund has delivered a cumulative return of 13.45%. It last delivered double-digit annual returns in 2020.
The fund seeks capital appreciation over the medium-to-long-term, utilising investments in corporate debt, equities and derivatives. Advent applies a relative value multi-strategy approach to investing in credit and volatility markets with an event-driven bias.
New York-based Advent Capital Management, which marks its 30th anniversary this year, primarily invests in convertible, high yield and equity strategies.
Top credit funds September (%)
Advent Global Partners UCITS Fund vs UCITS credit cumulative returns (%)
*Estimate
See hedge fund listing notes
