Investors in leveraged loans have been pulling money from retail funds in recent weeks, with redemptions outpacing investments by $253.3b in the week ending July 24. The Invesco Senior Loan ETF (BKLN) recorded July outflows of $384.6b, in a reversal from the inflows seen over the prior three months.
After beginning the year at an average price of 96.93, secondary market loan pricing declined to 94.60 on March 3 before rebounding to 95.72 by May 14, and as of July 29, slid back down to 95.09 according to the Bloomberg US Leveraged Loan Index. Despite recent volatility, the index has delivered a year-to-date total return of 2.08%.
Latest news
Lack of new issues clouds CLO market
It’s been boom time in the leveraged loan market but now that market has eased off, what are the implications…
Multiples on PE buyouts
This quarter marks our integration of SPI by StepStone as the primary source for US buyout valuation metrics for the PE Breakdown.
US Leveraged Loan Issuance Slows to $76.5b in July
The US leveraged loan market has continued to slow from the May level of $104.7b, with approximately $76.5b priced in…