8th Apr 2014 11:18
LONDON (Alliance News) - Alcentra European Floating Rate Income Fund Ltd Tuesday said it was "relatively immune" to the weakness is the distressed loan market.
In its monthly performance update for March, Alcentra, which invests in senior secured loans and senior secured bonds issued by European corporates, said it had no exposure to riskier credit, several of which suffered meaningful price falls.
Alcentra said its top five performing positions were all up in excess of 0.7%, while the worst five were down 0.3% to 2%, with only only one falling by more than 0.8%.
The fund said new purchases were again focused on primary market deals, such as credit reference agency Callcredit and higher education learning materials business Cengage.
By Samuel Agini; [email protected]; @samuelagini
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