15 Jul 2021 Market Update Asset-Backed Securities Quarterly Update – July 2021 TwentyFour Partner and Portfolio Manager, Douglas Charleston, explains how ABS markets have performed in Q2 2021 and provides his outlook for the year ahead. Watch now
23 Jun 2021 TwentyFour Blog A Lighter Shade of Green We have a high opinion of Kensington as a mortgage lender and when we score it for ESG as part of our investment analysis it performs very well even without this latest Green initiative, but we do feel it can stretch further. Read more
10 Jun 2021 Market Update Don’t get left behind in fixed income The remarkable pace of change in the markets as the global economy reopens points to opportunities in higher yielding bonds, with financials in particular set to benefit, says TwentyFour Asset Management CEO and portfolio manager Mark Holman. Read more
1 Jun 2021 TwentyFour Blog Investors Should Fight Weakened CLO Docs 2021 looks set to become a post-financial crisis record year for European CLO issuance and refinancings, but amid the rush of activity we are seeing a concerning trend for weaker documentation in refinanced deals that in our view investors need to fight against. Read more
10 May 2021 Market Update Asset-Backed Securities Q2 2021 Update In TwentyFour's ABS update on Monday 10th May 2021, Aza Teeuwen provided an update on investment themes and positioning in the ABS market. Watch now
14 Apr 2021 Market Update Asset-Backed Securities – Quarterly Update – April 2021 TwentyFour AM partner and portfolio manager Douglas Charleston discusses how ABS markets have performed in the first quarter of 2021 and provides his outlook for the rest of the year. Watch now
24 Mar 2021 TwentyFour Blog Brass Builds Momentum in ESG ABS In terms of execution, it is difficult to assess any ‘ESG premium’ in Brass 10 given the overall strong demand, and in our view it’s still early to weigh the importance of a ‘social’ label for ABS investors. Read more
17 Mar 2021 TwentyFour Blog Green RMBS Is No STORM in a Tea Cup For most investors this deal would likely be considered a liquidity position, and at a spread of 15bp this is certainly not the sexiest proposition the European ABS market has to offer, but what is interesting about this latest instalment from the STORM platform is what makes the deal ‘Green’. Read more
11 Mar 2021 TwentyFour Blog Inflation Concerns Put ABS in Focus For fixed income investors, we think floating rate European ABS bonds could be an allocation consideration to help improve return prospects and reduce volatility. Read more
4 Mar 2021 TwentyFour Blog Securitisation Written Out of UKAR Success Last week UK Asset Resolution (UKAR) announced the sale of its final mortgage loan portfolios, bringing to a close a decade long chapter of state ownership. Read more
9 Feb 2021 Market Update European ABS: A natural home for ESG and sustainable investing Fixed income investors increasingly desire their investments to have a positive societal impact, but in the rush to scrutinise the Environmental, Social and Governance (ESG) credentials of government and corporate bond issuers, we believe the natural ESG advantages of asset-backed securities (ABS) have so far been overlooked. Read more
9 Feb 2021 TwentyFour Blog ESG: Looking Under the Label This deal, backed by a £472m pool of owner-occupied mortgages partially securitised in a previous transaction, drew over £1.2bn of orders and was printed 10-30bp tighter than initial price guidance depending on the tranche, reaching pre-COVID tights. Read more