TwentyFour Income Fund Limited (LON:TFIF) has published its monthly factsheet and commentary to the end of February 2026.
Market Commentary
Summary: Broadly, markets performed well during February, ahead of escalating tensions in the Middle East. This also applied to European securitised products, although headlines from the artificial intelligence (AI) segment resulted in negative price action in the collateralised loan obligation (CLO) market, albeit protected by healthy income. There was €17bn of new issuance in the asset-backed security (ABS) market, complemented by €7bn of CLO refinancing/reset. Secondary supply picked up significantly, particularly in CLOs, where several offshore accounts sold high yield paper. There was a dispersion in clearing levels for CLOs, depending on the level of market over-collateralisation, following the sell-off in loans. BB European CLOs traded in a range of 5.5-7.0% over Euribor
