Speed needed in AXA’s old CLO grab

By Will Caiger-Smith
26 Mar 2015

While the recent SOTUS exemption on non-Volcker-compliant CLOs is driving liquidity in legacy CLOs as a triple-A alternative with high carry, some investors are looking at even older paper.

AXA’s new Short Maturity CLO Opportunity Fund, which has been running since November 2013, but was only formally announced last week, is investing in CLOs with such short durations that it is almost about to close again after a final push for subscriptions.

The fund focuses on CLO ...

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