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Credit Interval Fund Index - Q1 2024

Q1 Performance Summary

Credit Interval Funds: +2.9%

  • The SKRADD-IFC Index rose 2.9% during Q1 2024, with all constituent funds posting a positive return for the quarter.

Investment-Grade Bonds: -0.6%

  • The bond market fell 0.6% during Q1 as strong economic data and stubborn inflation reduced expectations for Fed rate cuts.

Leveraged Loans: +1.9%

  • The U.S. leveraged loan market returned 1.9% during the quarter, driven primarily by ongoing elevated interest rates.

Altidar High Return - BlueBay Destra International Event-Driven Credit Fund: +6.0%

  • Per the Q1 2024 Fund Update, over 30 issuers had positive returns, while nine had negative returns. Positive contributions outweighed negative ones, with the top five issuers contributing +292bps and the bottom five contributing -39bps.

Altidar Low Return - BlackRock Credit Strategies Fund: +1.6%

  • According to the fund's 1Q2024 Commentary, its floating rate asset exposures, including private debt, bank loans, and CLOs, were significant contributors to performance due to elevated base rates. U.S. investment grade credit had a minimal negative impact on overall returns.

Download Q1 Report

For a more in-depth analysis, download the full Q1 index update below. This report offers a historical perspective on the index's returns, credit benchmark comparisons, and recent performance data for the credit-focused interval funds featured on the Altidar platform.

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