GLG US Collateralised Loan Obligations
- The team has a long history of working together across various credit cycles and share a unified desire to become a market leader. This has resulted in a cohesiveness that is crucial in market cycles
- Boutique size allows the team to be highly selective in acquiring assets seeking to maintain credit discipline in virtually any market
- Proactive credit discipline and a conservative credit culture
- The team seeks to reduce credit risk through ongoing evaluation of portfolio exposure at each step of its investment process
- Credit analytics, portfolio management, CLO guideline compliance and daily cash & position reconciliations are integrated into one proprietary Portfolio Management system - a powerful tool for portfolio managers, analysts and middle office
Approach
The team seeks to reduce credit risk through an ongoing evaluation of portfolio exposure at each step of the process:
Deal Review
- Initial deal screening based on targets such as minimum tranche size and EBITDA
- Focus is on asset coverage, free cash flow, defendable market position and quality of management
- Deal details and diligence are integrated into our systems
Investment Memo/Due Diligence
- The due diligence process culminates in an investment memo handed out to the entire analyst team prior to the credit committee meeting. It provides in-depth business, structural and portfolio analysis
Financial Model
- Prepared based on our proprietary research and open source data
Credit Meeting
- A meeting to consider the opportunity based on the internally developed intelligence, identify red flags and formulate a trading and risk management plan
Credit Monitoring Process
- Layers of predefined daily, weekly, quarterly and ongoing monitoring and analysis
Our proprietary Credit Portfolio Management System integrates credit analytics with active portfolio management and compliance in a single application. This allows our portfolio managers and analysts to work together more efficiently.
| Approach | Alternative |
| Asset Class | Credit |
| Geographic Focus | US |
Investment Solutions
Man offers a comprehensive suite of investment solutions and formats that can be tailored and optimised to meet specific client needs.
Our investment solutions offer optionality including: liquidity, control, investment restrictions, investor customisations and transparency.
UCITS
Alternative investment funds
US 40 ACT
Regional funds
Separate accounts
Advisory mandates
Managed accounts
Access to investment products and mandate solutions are subject applicable laws and regulations including selling restrictions and licensing requirements. Investment solutions listed above may not be compatible for all investment strategies and may be subject to minimum subscription requirements. Regional Funds: In additions to UCITS and AIFs registered across the EEA, a number of investment strategies are available in vehicles registered in Chile, Netherlands, Hong Kong, Japan, Singapore, South Korea and Switzerland.
Important Information
+ Registration with the SEC does not imply a certain level of skill or expertise or that the SEC has endorsed the manager.
Considerations
One should carefully consider the risks associated with investing, whether the strategy suits your investment requirements and whether you have sufficient resources to bear any losses which may result from an investment:
Investment Objective Risk - There is no guarantee that the Strategy will achieve its investment objective.
Market Risk - The Strategy is subject to normal market fluctuations and the risks associated with investing in international securities markets and therefore the value of your investment and the income from it may rise as well as fall and you may not get back the amount originally invested.
Counterparty Risk - The Strategy will be exposed to credit risk on counterparties with which it trades in relation to on-exchange traded instruments such as futures and options and where applicable, ‘over-the- counter’("OTC","non-exchange") transactions. OTC instruments may also be less liquid and are not afforded the same protections that may apply to participants trading instruments on an organised exchange.
Currency Risk - The value of investments designated in another currency may rise and fall due to exchange rate fluctuations. Adverse movements in currency exchange rates may result in a decrease in return and a loss of capital. It may not be possible or practicable to successfully hedge against the currency risk exposure in all circumstances.
Liquidity Risk - The Strategy may make investments or hold trading positions in markets that are volatile and which may become illiquid. Timely and cost efficient sale of trading positions can be impaired by decreased trading volume and/or increased price volatility..
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