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
Funds at a glance
Creditflux index returns February (%)
Leading fund
Lupus Alpha CLO Opportunity Notes I
Lupus Alpha was the stand-out performer among fund managers in February.
Its Lupus Alpha CLO Opportunity Notes I reprised its market-leading performance from last April, delivering an impressive 5.55% monthly gain.
The fund has offered consistently strong returns, and was only just edged out of another chart-topping performance last January by its stablemate, CLO Opportunity Notes II.
According to Michael Hombach, portfolio manager at Lupus Alpha, February’s performance was driven by the addition of some equity pieces, especially ones offering a gap between MV NAV and Par NAV.
“We are conservatively positioned, but we added equity positions that were priced to perfection,” he said.
“If prepayments materialise, we capture the valuation gap. If not, the underlying cashflows are highly attractive.”
Lupus Alpha CLO Opportunity Notes I vs CLO funds index (%)
