December 29, 2016
Conning Launches Second Series of CLO-Focused Separately Managed Accounts
HARTFORD, CT – December 29, 2016 – Conning, a leading global investment management firm, has announced the recent launch of the second series of CLOQ (“CLOQ 2”), its separately managed accounts focused on investment grade tranches of collateralized loan obligations (“CLOs”). This mandate, sub-advised by Octagon Credit Investors, LLC (“Octagon”), a specialized credit manager and Conning subsidiary, follows the initial series launched earlier this year.
Conning’s CLOQ series of separate accounts are designed as a portfolio solution for insurers and offer access to a diversified portfolio of AAA, AA, and A-rated CLO debt securities.
“Conning’s success with CLOQ 2 demonstrates Conning’s insurance expertise and the value that Octagon brings as an accomplished manager in this asset class,” said Mike Haylon, Head of Asset Management Sales, Marketing, and Insurance Research at Conning. “We believe investment grade CLO debt is an attractive asset class for many insurance investors in today’s market, offering income enhancement, floating interest rates, low capital charges and a history of very low credit losses.”
“We are very pleased with the interest we have seen from insurers and other investors in this strategy,” said Doug McDermott, a Managing Director, Business & Product Development at Octagon. “As we head into the new year, we anticipate growing demand for similar investment solutions and expect to complete a number of these programs in 2017.”
As of November 30, 2016, Octagon manages $14.2 billion in assets, including separately managed accounts, CLOs and private credit funds.
Conning (www.conning.com) is a leading global investment management firm with approximately $120 billion in global assets under management as of September 30, 2016.* With a long history of serving the insurance industry, Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, award-winning risk modeling software, and industry research. Founded in 1912, Conning has offices in Boston, Cologne, Hartford, Hong Kong, London, New York, and Tokyo.
*As of September 30, 2016, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited, and Cathay Securities Investment Trust Co., Ltd. ("SITE"). SITE reports internally into Conning Asia Pacific Limited, but is a separate legal entity under Cathay Financial Holding Co., Ltd. which is the ultimate controlling parent of all Conning entities.
ABOUT OCTAGON CREDIT INVESTORS
Octagon Credit Investors is a leading specialized credit investment management firm. Founded in 1994, the firm has over 20 years of experience managing below-investment grade corporate credit on behalf of institutional and high net worth investorsNovember 30, 2016, Octagon manages $14.2 billion in assets. Octagon’s long-tenured team uses rigorous fundamental credit analysis and a disciplined portfolio management process to identify attractive opportunities across asset classes, sectors and issuers. Octagon is headquartered in New York, New York.
For more information:
+1 646 286 5401