The Tabula Liquid Credit Income UCITS Fund (the “Fund”) aims to generate high income and capital appreciation, whilst maintaining low interest rate duration. The Fund seeks to achieve its investment objective by taking exposure to primarily liquid investment grade credit indices and applying a systematic tail-hedging strategy that is designed to mitigate downside risk during large market shocks.
Latest Meeting Note
Meeting 15 Nov 2022
The Tabula group is an independent fixed income and credit manager headquartered in London with 30 professionals and over $700m in AUM. The firm was founded by David Peacock and John Weiss in 2018 to provide investors with passive (ETF w... Read more
The Tabula group is an independent fixed income and credit manager headquartered in London with 30 professionals and over $700m in AUM. The firm was founded by David Peacock and John Weiss in 2018 to provide investors with passive (ETF with a strong focus on sustainability) and active investing solutions. The Tabula Liquid Credit Income UCITS is an active credit fund focused on systematic strategies based on liquid credit index products (e.g. iTraxx, CDX). The fund takes directional US and European IG exposures through liquid CDS indices to maximize credit income potential, with minimal interest rate duration. This ‘income’ portfolio (7-8x leverage to 50/50 portfolio of iTraxx Main and CDX IG 5y indices) is combined with combined with a systematic tail hedging strategy (the ‘hedge’ portfolio) for the purpose of reducing drawdowns in during tail events. The unencumbered cash invested in short-term T-bills from high quality governments providing a further source of returns. The fund was launched in December 2021 and has an attractive pricing structure with a TER of 0.95% with no performance fee.