Yield search leads AXA to vintage US CLOs

By Tom Porter
16 Mar 2015

AXA Investment Managers has responded to investor yield hunger by raising an expected $250m fund to invest short term at the mezzanine level in 1.0 era US CLOs.

The fund manager is targeting a net total return of between 4% and 6%, while keeping the average rating of its exposures at investment grade.

AXA’s co-head of securitization Christophe Fritsch, who added head of structuring to his job description this month, said family offices, pension funds ...

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