Home Credit Ratings and Research Fitch Research

Loan Closed-End Fund Spotlight (Increased Interest in Loan Assets as Loan Credit Cycle Matures)

Published Jul 01, 2014

6 pages (3000 words) — Published Jul 01, 2014

Price US$ 999.00 | Buy this Report Now

About This Report

Brief Excerpt:

...Loan CEF Market Benefits from Demand: Closed-end funds investing in leveraged loans (loan CEFs) have benefitted from the rally in the overall loan market in the past two years. The J.P. Morgan Leveraged Loan Index returned 5.3% in 2013 after posting returns of 9.4% in 2012 and 1.5% in 2011. Retail investors' demand for loans has been strong over this time. Correspondingly, total assets for loan CEFs have increased by $23 billion since the first half of 2009, and the overall number of funds has increased to 28 from 22 during the same period. Loan Credit Cycle is Maturing: Relative to the last credit cycle, the current credit cycle resembles the time frame of 2005 to early 2006, characterized by increasing risk appetite and leverage. While growth expectations are more subdued compared to the last upswing, this year has been showing signs of credit expansion. Non-investment grade corporate leverage has been increasing. Term Securities Replacing Legacy Auction Preferred: The loan CEF sector...

Report Type:

Special Report

Format:

PDF

Aseguradoras Mexicanas: Indicadores Marzo 2014 – 2014/07/01 – US$ 999.00

Mexican Insurers: March 2014 Financial Ratios (Technical Profitability Stable, but Regulatory Changes Remain Challenging) – 2014/07/01 – US$ 999.00

Fitch U.S. High Yield Default Insight (Secured Bonds in the Mix) – 2014/06/30 – US$ 999.00

Global Structured Finance Distressed Debt Exchange Criteria – 2014/06/30 – Free

Southwest U.S. Cities Drought Implications (Near to Medium Term Growth Likely Not Impaired) – 2014/06/30 – US$ 999.00

U.S. Private Student Loan ABS Index Report Card – 2014/06/30 – US$ 550.00

U.S. RMBS Master Rating Criteria – 2014/07/01 – Free

U.S. Telecom and Cable Stats Quarterly (First-Quarter 2014) – 2014/06/30 – US$ 999.00

U.S. Public Finance Credit View: States – 2014/07/01 – US$ 350.00

Proyectos de Modernizaci=n del Sistema de Alumbrado P·blico – 2014/07/01 – US$ 999.00

More from Fitch Research

Fitch Research—Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.

About the Author

Cite this Report


MLA:	Fitch Research. "Loan Closed-End Fund Spotlight (Increased Interest in Loan Assets as Loan Credit Cycle Matures)" Jul 01, 2014. Alacra Store. May 13, 2025. <http://www.alacrastore.com/fitch-credit-research/Loan-Closed-End-Fund-Spotlight-Increased-Interest-in-Loan-Assets-as-Loan-Credit-Cycle-Matures-748768_report_frame>

APA:	Fitch Research. (). Loan Closed-End Fund Spotlight (Increased Interest in Loan Assets as Loan Credit Cycle Matures) Jul 01, 2014. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/fitch-credit-research/Loan-Closed-End-Fund-Spotlight-Increased-Interest-in-Loan-Assets-as-Loan-Credit-Cycle-Matures-748768_report_frame>

US$ 999.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Credit Research from one place.