当社の別のサイトへ移動
  • Nuveen
    • グローバル(英語 English)
    • これより先のウェブサイトは日本在住の閲覧者を対象とせず、また日本国の法令諸規則が及ぶ内容ではありません。移動しますか?



オルタナティブ

プライベート・
クレジットを考える

プライベート ・ クレジットを考える

今日のミドル・マーケットにおける投資機会


ハイライト


 

  • プライベート・クレジットへの投資を行うことで、利回りの確保、ボ
    ラティリティの抑制、他の資産クラスとの低相関性という、今日の投
    資家が抱えている課題に対応することができるかもしれません。
  • 高クオリティな米国のシニア債およびジュニア債に対して強気の見通
    しを有しており、特にヘルスケア・セクターやBtoB企業、ソフトウェ
    ア企業が堅調に推移するとみています。
  • 直近、市場は底値水準にあることを勘案すると、絶対バリューおよび
    高利回りプレミアムの享受が期待できるメザニン債にも投資妙味があ
    るとみており、ポートフォリオへの組入余地を残す必要があると考え
    ています。
  • プライベート資産への投資において、投資価値の創出方法が多くあり
    ますが、広範な投資体制、長期にわたる運用実績およびボロワーやそ
    のほかのレンダーなどとの優良な関係性は必要不可欠であると考えて
    います。
お問い合わせ
オフィス
日本
ヌビーン・ジャパン株式会社の オフィス
27F, Atago Green Hills Mori Tower, 2-5-1, Atago, 105-0002, Minato-ku, Tokyo

投資一任契約に係る重要なお知らせ
Endnotes
1 Data source: Cliffwater Direct Lending Index (CDLI), 01 Jan 2005 to 31 Dec 2019.
2 Data source: Prequin, 31 Aug 2019.
3 Data source: The National Center for the Middle Market

The views and opinions expressed are for informational and educational purposes only as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions, legal and regulatory developments, additional risks and uncertainties and may not come to pass. This material may contain “forward-looking” information that is not purely historical in nature.

Such information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition. Any changes to assumptions that may have been made in preparing this material could have a material impact on the information presented herein by way of example. Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.

All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

Glossary

Correlation is a statistical measure of how two securities move in relation to each other. Perfect positive correlation (a correlation co-efficient of +1) implies that as one security moves the other security will move in lockstep, in the same direction. Alternatively, perfect negative correlation (a correlation co-efficient of -1) means that securities will move by an equal amount in the opposite direction. If the correlation is 0, the movements of the securities are said to have no correlation; their movements in relation to one another are completely random. Covenant is a promise in an indenture, or any other formal debt agreement, that certain activities will or will not be carried out. Covenants in finance most often relate to terms in a financial contract, such as a loan document or bond issue stating the limits at which the borrower can further lend. Earnings before interest, taxes, and amortization (EBITA) refers to a company’s earnings before the deduction of interest, taxes, and amortization expenses. It is a financial indicator used widely as a measure of efficiency and profitability. S&P/LSTA Leveraged Loan Index is designed to reflect the performance of the largest facilities in the leveraged loan market. S&P Middle Market Index provides investors with a benchmark for mid-sized companies, reflecting the distinctive risk and return characteristics of this market segment.

A word on risk

Investing involves risk; principal loss is possible. Debt or fixed income securities are subject to market risk, credit risk, interest rate risk, call risk, derivatives risk, dollar roll transaction risk and income risk. As interest rates rise, bond prices fall. Below investment grade or high yield debt securities are subject to liquidity risk and heightened credit risk. Foreign investments involve additional risks, including currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. Please note investments in private debt, including leveraged loans, middle market loans, and mezzanine debt, are subject to various risk factors, including credit risk, liquidity risk and interest rate risk.

This information represents the opinion of Nuveen, LLC and its investment specialists and is not intended to be a forecast of future events and or guarantee of any future result. Information was obtained from third party sources which we believe to be reliable but are not guaranteed as to their accuracy or completeness. There is no assurance that an investment will provide positive performance over any period of time.

Nuveen, LLC provides investment advisory services through its investment specialists.
Back to Top Icon