Credit

Strategy Research, 26 Aug 2020

Index Research Funds

AH Credit UCITS Index

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2020 0.3 -0.1 -5.3 1.9 1.5 1.5 1.3 0.8 -0.1 1.5
2019 1.2 0.4 0.2 0.5 -0.3 1.0 0.3 -0.3 0.3 0.4 0.0 0.7 4.5
2018 0.6 -0.3 -0.5 0.0 -0.7 -0.2 0.3 -0.3 0.1 -0.6 -0.7 -0.4 -2.7
2017 0.4 0.3 0.0 0.2 0.1 0.1 0.3 0.0 -0.1 0.3 -0.1 0.0 1.5
2016 -0.7 -0.3 0.7 0.8 0.1 0.1 0.8 0.5 0.1 0.5 -0.5 0.6 2.6
2015 0.3 0.6 0.1 0.4 0.1 -0.6 -0.2 -0.5 -0.7 0.3 -0.3 -0.8 -1.2
2014 0.3 0.7 0.2 0.3 0.3 0.2 -0.2 0.0 -0.3 -0.3 0.0 -0.6 0.6
2013 0.7 0.2 0.0 0.6 0.3 -0.8 0.6 0.1 0.5 0.8 0.1 0.3 3.4
2012 1.2 1.1 0.1 -0.2 -0.1 0.5 0.6 0.5 0.5 0.6 0.4 0.6 6.0
2011 0.4 0.5 0.4 0.2 0.2 -0.3 0.0 -1.3 -1.4 1.1 -0.6 0.3 -0.5
2010 0.7 0.4 1.9 0.6 -1.5 -0.1 1.3 0.4 0.7 0.4 -0.3 0.4 4.8
Download Index Return Series

Top Funds YTD

YTD
Polar Capital Global Absolute Return 14.0
Pictet Kosmos 13.5
HI Numen Credit Fund 11.3
Lazard Rathmore Alternative Fund 11.3
MontLake Advent Global Partners UCITS 9.7
Merian Strategic Absolute Return Bond Fund 7.8
Algebris Global Credit Opportunities Fund 7.4
Lazard Emerging Markets Total Return Debt 7.2
Oyster Global Convertible 6.9
Legal & General Dynamic Bond Trust 6.9

Bottom Funds YTD

YTD
Legg Mason Brandywine Global Enhanced Abso... -12.8
Lumyna - KLS Fixed Income UCITS -12.0
Emso Emerging Markets Absolute Return Debt -9.3
Pareturn Gladwyne Absolute Credit -8.8
Legg Mason Brandywine Global Credit Opport... -6.4
GAM Systematic Dynamic Credit -4.6
Franklin K2 Ellington Structured Credit UC... -4.1
Robeco QI Long/Short Dynamic Duration -3.3
GAM Star (Lux) - Convertible Alpha -3.3
Cheyne Enhanced Global Credit -3.1

Strategy AUM

30 June 2020
£30.5b -12% YOY

Largest Credit Funds

AUM
BlackRock Strategic Funds Fixed ... £5.3b
BlueBay Investment Grade Absolut... £1.7b
JPM Income Opportunity £1.6b
PIMCO GIS Mortgage Opportunities £1.5b
GAM Star Cat Bond £1.5b

Largest Inflows (Q2'20 - Q2'19)

Change AUM
Twelve Cat Bond Fund £322m £476m
XAIA Credit Basis II £301m £752m
PIMCO GIS Mortgage Opportunities £247m £1.5b
XAIA Credit Basis II £214m £752m
Twelve Cat Bond Fund £193m £476m

Largest Outflows (Q2'20 - Q2'19)

Change AUM
BlackRock Strategic Funds Fixed ... £-1,316m £5.3b
BlackRock Strategic Funds Fixed ... £-1,268m £5.3b
JPM Income Opportunity £-634m £1.6b
HSBC GIF GEM Debt Total Return £-616m £351m
JPM Income Opportunity £-580m £1.6b

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Close Current Site Absolute Hedge is a market leading UCITS research database providing proprietary research on funds, themes and strategies in the UCITS space. Kepler Trust Intelligence is produced by the investment companies team at Kepler Partners and is the UK’s premier source of detailed qualitative research on investment trusts. Kepler Liquid Strategies is a Dublin domiciled UCITS fund platform featuring a number of best-of-breed fund managers. Kepler Partners is a corporate advisory and asset raising boutique specialising in the regulated funds market in Europe and investment trusts in the UK.