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AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for May. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).
PERFORMANCE and PORTFOLIO ACTIVITY
Volta has continued to perform well in May with +0.4%, reaching a total return of 8.9% for the first five months of 2021.
This time around, the performance was driven almost evenly by the good performance from CLO equity, CLO debt tranches, and Bank Balance sheet transactions. This month, the USD depreciation cost 0.7% of the monthly performance.
The monthly asset class performances were: +1.4% for Bank Balance Sheet transactions, +1.6% for CLO equity tranches; +1.2% for CLO debt; -2.6% for Cash Corporate Credit and ABS (together representing 3.1% of GAV).
Volta Finance Limited - Net Asset Value as at 31 May 2021
PERFORMANCE and PORTFOLIO ACTIVITY
Volta has continued to perform well in May with +0.4%, reaching a total return of 8.9% for the first five months of 2021.
This time around, the performance was driven almost evenly by the good performance from CLO equity, CLO debt tranches, and Bank Balance sheet transactions. This month, the USD depreciation cost 0.7% of the monthly performance.
The monthly asset class performances were: +1.4% for Bank Balance Sheet transactions, +1.6% for CLO equity tranches; +1.2% for CLO debt; -2.6% for Cash Corporate Credit and ABS (together representing 3.1% of GAV).
In terms of fundamentals, trailing-12-month default rates continued to decline in May, reaching post-Covid new lows with 1.7% default rate both for US loans and European loans. We were expecting default rates to converge between the US (where the impact of the Covid was more important) and Europe thanks to a faster economic
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Volta Finance Limited - Directorate change
IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Guernsey,
2021
The Board of Volta Finance Limited is pleased to announce the appointment of Dagmar Kent Kershaw as an independent non-executive director, with effect from 30 June 2021.
Ms Kershaw is an experienced non-executive director, with over 25 years experience in financial markets, leading and developing fund management and alternative debt businesses. She headed Prudential M&G s debt private placement activities, and launched its Structured Credit business in 1998, which she led for ten years. In 2008, she joined Intermediate Capital Group to head its European and Australian credit business including institutional funds, CLOs, direct lending and hedge funds. Since 2017, she has held non-executive positions and is currently a director of Brooks Macdonald plc and Aberdeen Smaller Companies Income Trust Plc, and a member of the Advisory Council of SVP Global (Strategic Value Par