Combined AUM for US CLOs and retail loan funds inched up to US$784bn in July

US CLO assets under management along with loan mutual fund assets under management, inched up in July for a combined total of US$784.4bn, which remains down 1.5% from January’s US$796bn peak. Loan market outstandings ticked lower to end July at US$1.180trn, driven by muted institutional volume post-COVID. CLOs’ share of the institutional market stands at 58% while loan funds make up a 7.3% share of the market. Loan fund assets under management ticked down to US$87.4bn at the end of July, from June’s US$88.2bn. As a result, loan funds saw AUM shrink by nearly one third from January’s US$119bn high. Meanwhile, US CLO assets under management inched up to US$697bn in July from US$693.4bn in June and May’s US$687.9bn. They are up 4% this year while European CLOs were managing €136bn in assets by the end of July, which is up 9% this year. European CLO market issuance continues to rebound and recorded in July its busiest month since February, with 8 deals pricing for a total of €2.6bn contributing to €12.7bn for the year, which remains 37% lower than the same time last year.