Volta Finance - Shift towards CLO equity ahead of cycle turn
Volta’s NAV TR performance in recent months was influenced by weaker market sentiment towards the end of 2018, which (despite the subsequent rebound) translated into a marginal (c 1%) negative return in H119 ending on 31 January. Returns in February and March were mildly positive, bringing the ytd performance to 4.0%. Importantly, the cash flows generated by Volta’s portfolio remain strong. Moreover, AXA IM used the recent increase in market volatility to deploy the rest of Volta’s dry powder and increase its exposure to CLO equity tranches at attractive prices ahead of any potential turn in the credit cycle.Volta Finance is a closed-ended investment company with the objective of investing, among other asset types, in the following main asset classes: Collateralized Loan Obligation, Synthetic Corporate Credit, Cash Corporate Credit and ABS. Co. has appointed AXA Investment Managers Paris S.A., as its Alternative Investment Fund Manager to manage the investments of Co.
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