Credit Interval Fund Index - Q4 2024
- jackkearney54
- Feb 19
- 2 min read
Q4 Performance Summary
Credit Interval Funds: +1.8%
The SKRADD-IFC Index gained 1.8% in Q4, marking the second consecutive quarter of positive returns across all constituents.
Investment-Grade Bonds: -2.6%
After a strong Q3, bonds retreated 2.6% in Q4. The Fed's shift in posturing, driven by persistent inflation concerns, caused interest-rate sensitive bonds to fall
Leveraged Loans: +2.5%
Leveraged loans posted a 2.5% return in Q4, supported by strong demand, limited supply, and sustained high interest rates.
Altidar High Return - Franklin BSP Private Credit Fund: +6.1%
Franklin BSP Private Credit Fund returned 6.1% in Q4 and also led all credit interval funds on the Altidar platform with a 12-month return of 15.3%. The fund employs a multi-strategy approach spanning direct lending, liquid high yield, structured credit, and special situations.
Per the fund’s quarterly commentary, special situations and event-driven strategies were key contributors, with the top two contributors, Fannie Mae and MicroStrategy, noted as “direct beneficiaries of the Trump election victory".
Altidar Low Return - BlueBay Destra International Event-Driven Credit Fund: -1.4%
BlueBay Destra International Event-Driven Credit posted the lowest return in Q4, down 1.4%. The fund invests in “event-driven credit opportunities” across five sub-strategies: Core Income, Stressed, Opportunistic, Distressed, and Credit Shorts.
For the fiscal year ended 9/30/24, the largest contributors included the Opportunistic, Stressed and Core Income sub-strategies. The Credit Shorts/Market Hedging sleeve was the detractor for the year.
Download Report
For an in-depth analysis, download the index update below. This report includes historical performance data, credit benchmark comparisons, and recent performance data for the credit-focused interval funds featured on the Altidar platform.
Want to explore the data? Download it in Excel format.
