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Global credit funds & CLO's
October 2023 | Issue 258
Published in London & New York.
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October 2023 | Issue 258
Data
funds
Fund performance
Fund performance
Positive August for credit sees CLO funds on top again
CLO funds continued their dominance in the Creditflux league tables, as the category index hit 1.78% for August and 2.35% for the quarter so far. Once again, a CLO fund topped the charts, with Fair Oaks’ Wollemi Investments leading the month.
Creditflux index returns August (%)
August remained positive overall for credit funds, with 86% of funds posting gains.
Outside of the CLO category, Serone, Cartesia and CSAM made it into the top 10, representing the structured finance and credit multi-strategy categories, respectively. The two categories also followed CLOs as the second and third best indices in August.
Axiom Credit Opportunity continues to lead the 2023 rankings. The Parisian firm reached a year-to-date return of 26.71% in August, marking 11 months of positive returns. This outperformance also represents a sharp bounce back from 2022, when the funds hit -9.29% YTD.
Leading fund
Wollemi Investments
Fair Oaks Capital ended summer in top spot, as its CLO fund reached 6.45% in August. The firm, based out of both New York and London offices, achieved an 18.50% year-to-date return in 2023 for the Wollemi Investments fund. The fund also has the highest annualised return since inception, scoring 25.79% since its launch in March 2021.
Miguel Ramos Fuentenebro, co-founder at Fair Oaks, said: “Fair Oaks has been recognised as a top-tier manager due to the quality of its portfolios. With zero default losses since inception, Wollemi’s portfolio has strategically capitalised on the strength in secondary loan prices to boost WAS by transitioning into new primary transactions.
“This approach has enhanced the portfolio’s spread and future cashflows, all while maintaining our unwavering commitment to quality.”
Top credit funds in August (%)
Wollemi Investments vs CLO funds cumulative returns (%)
*Data since fund inception (March 2021)
**Estimates
For hedge fund listing notes see Credit hedge funds
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