CLOs avoid ‘par burn’ in March, with a few standouts

By Paola Aurisicchio
09 Apr 2020

US CLO managers avoided “par burn” in March, but a handful of firms stood out in navigating the volatility, according JP Morgan.

A JP Morgan research report analysed how 86 CLO managers with at least one CLO have traded around loan volatility and mounting downgrades.

According to the analysts, 51 managers built par by an average of 3bp, with Midocean, Tall Tree, Wellfleet, Anchorage, and Crescent leading the top 5% of ...

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