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Fair Oaks unveils Ucits collateralised loan obligations fund

Fair Oaks Capital, a specialist in collateralised loan obligations (CLO), has launched a Luxembourg-domiciled Ucits sub-fund investing across US and European credit assets.

The weekly dealing Fair Oaks Dynamic Credit Ucits fund aims to generate net target returns of 5% per annum.

The strategy is headed by partners Miguel Ramos Fuentenebro and Roger Coyle, with an investment team spread across London and New York.

The fund complements the firm’s existing Fair Oaks Income Fund, a listed vehicle on the London Stock Exchange that was launched in June 2014.

The launch of the initial share class of the fund is expected to complete on 28 September with close to €150m (£126.8m, $168.5m) AUM. Initial investors include wealth manager 7IM.

“We view it as an innovative and attractive alternative to traditional investment grade corporate bonds, where the yields of the global dollar benchmark are close to historic lows at just over 3% and the duration is nearly nine years – implying a high sensitivity should US long-term yields back up so much,” said 7IM senior portfolio manager Peter Sleep.

“CLOs are similar to investment grade debt, with a higher yield and much less sensitivity to rising interest rates as the loans underlying the CLOs are floating rate and reset every few months. The big issue with CLOs is their relative illiquidity, which is why the fund is only weekly dealing. The pricing can be volatile when the market is falling,” Sheep said.

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“It has come to our attention that an organisation called Fair-OaksCrypto, which appears to be operating from France, is using the Fair Oaks name and its prior address (67-68 Jermyn Street, London SW1Y 6NY, London) on its website

Neither Fair-OaksCrypto nor the website is connected to Fair Oaks Capital Limited, or any other entity within the Fair Oaks group, in any way.

If you receive a call from the telephone number +33 9 70 73 43 94 or an email from the domain then please be aware such communication has not been made by Fair Oaks Capital Limited or any other entity within the Fair Oaks group.

Fair Oaks Capital Limited has no offices or joint venture partners in France. If you have any questions or concerns regarding this matter, please contact Fair Oaks Investor Relations on or +44 (0)20 3034 0400.”

Il a été porté à notre attention qu’une organisation portant le nom de Fair-OaksCrypto et semblant avoir son siège social en France, se sert du nom de Fair Oaks et de l’adresse précédente de Fair Oaks (67-68 Jermyn Street, Londres, SW1Y 6NY) sur son site web

Ni Fair-OaksCrypto ni le site web n’est lié à Fair Oaks Capital Limited, ni en aucune manière à toute autre entité se trouvant au sein du groupe Fair Oaks.

Si vous recevez un appel du numéro téléphonique +33 9 70 73 43 94 ou un courriel émanant de la domaine, nous vous mettons en garde qu’une telle communication ne provient pas de Fair Oaks Capital Limited ni d’aucune autre entité se trouvant au sein du groupe Fair Oaks.

Fair Oaks Capital Limited n’a ni de bureau ni de partenaire en France. Si vous avez des questions ou des soucis à cet égard, vous êtes priés de contacter Fair Oaks Investor Relations à ou +44 (0)20 3034 0400.”