CIFU’s NAV declined 2.5% during November (NAV: $0.7647) bringing the YTD TR to -4.5%. The US loan pricing environment continued to soften during the month with CIFU’s 2.0 equity marks declining 3pts (to 64c) while 2.0 Mezz positions decreased 180bps which, while both weak, compare favourably vs comparable CLO benchmarks. December has seen further loan weakness, primarily driven by fears surrounding the recent decision by two US HY/distressed credit funds to suspend redemptions. The Fed finally a ....
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
November NAV -2.5%
- Published:
21 Dec 2015 -
Author:
Ben Heatley -
Pages:
4
CIFU’s NAV declined 2.5% during November (NAV: $0.7647) bringing the YTD TR to -4.5%. The US loan pricing environment continued to soften during the month with CIFU’s 2.0 equity marks declining 3pts (to 64c) while 2.0 Mezz positions decreased 180bps which, while both weak, compare favourably vs comparable CLO benchmarks. December has seen further loan weakness, primarily driven by fears surrounding the recent decision by two US HY/distressed credit funds to suspend redemptions. The Fed finally a ....