Flying start for credit and distressed funds


Credit and distressed players enjoyed a strong start to the new year, with some punchy returns in January from a wide range of credit-focused managers.

Among the broad credit players Simon Thorp's Liontrust Credit (formerly Ilex Credit) was up by almost 8% on the month - while specialist players such as Toro Capital in the ABS sector, Alpstar in bank loans and IFPC Zenith in high-yield also scored chunky gains.

Trafalgar Recovery, which spans the credit and distressed sectors, was up by 4.5% in January - while Observatory Credit Markets, which is now becoming part of the Stockholm-based Brummer stable