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THE VALUE OF INTEREST RATE FLOORS IN EUROPEAN CLOs While we typically think of CLO debt as a floating-rate investment paying a margin over Euribor, since 2015 most European CLOs have included a Euribor floor set at zero. They have thus effectively paid fixed rates of interest since 2015 when 3m Euribor dropped into negative […]
All CLO managers produce lengthy pitch books presenting the firm’s skill sets and geographic spread, outlining their investment philosophy, and listing the names of their key personnel from chief investment officers down to analysts and traders. Some, such as Barings, BlackRock and Oaktree, like to include the biographies of some key professionals. In these documents […]
WHAT IS HAPPENING WITH AAA CLOs? In this Reflections we explore the reliance of the CLO market on Japanese investors, the underperformance of CLO AAAs compared to other credit products during 2019 year-to-date and recent moves towards a more granular and diverse AAA investor base. CLO MARKET RELIANCE ON JAPANESE BANKS We have often highlighted […]
Managing credit risk and avoiding credit losses are key drivers of CLO returns. A strong focus on potential sources of credit risk is essential when considering investments at this point in the credit cycle. Contrary to general expectations of widespread defaults, Fair Oaks Capital believes that corporate default losses over the next five years will […]
“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 www.fair-oakscrypto.com.
Neither Fair-OaksCrypto nor the website www.fair-oakscrypto.com 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 @fair-oakscrypto.com 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 firstname.lastname@example.org 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 www.fair-oakscrypto.com.
Ni Fair-OaksCrypto ni le site web www.fair-oakscrypto.com 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 @fair-oakscrypto.com, 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 email@example.com ou +44 (0)20 3034 0400.”