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title: Defaults and downgrades are a dose of reality
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 Although both credit and equity have rallied since the end of March, the number of defaults shows that this recovery is fragile...

|                         Not rendering correctly? View this email as a web page here.                           Defaults and downgrades are a dose of reality   Although both credit and equity have rallied since the end of March, the number of defaults shows that this recovery is fragile. Rating agencies continue to downgrade corporate issuers, suggesting that the pain is far from over.   Data: S&P and Tabula, as at 29 May 2020       Whatever your outlook, Tabula’s long and short credit ETFs allow you to increase or decrease your credit exposure efficiently.     Read our latest updates Tabula signs UN PRI We are delighted to announce that we have signed the United-Nations-supported Principles for Responsible Investment (PRI). As our business grows, we want to ensure that sustainability and good governance are embedded in everything we do: how we manage investments, how we run our company and how we interact with the community. Tabula insights: A chance for a green recovery Covid-19 has led to a dramatic decline in greenhouse gas emissions as travel and general economic activity slowed sharply. However, tackling the climate emergency in a durable way will not come from shutting down the economy as coronavirus has done. It will come only from restructuring the economy to encourage a low-carbon alternative. Tabula senior consultant Gary Smith explores the consequences of coronavirus on climate change. Read more >     How did our ETFs perform in May?       Tabula iTraxx IG Bond (EUR) Dist1 +0.3% See the factsheet >     Tabula European iTraxx Crossover Credit  (EUR) Acc +3.0% See the factsheet >     Tabula European iTraxx Crossover Credit Short (EUR) Acc -3.2% See the factsheet >     Tabula European Performance Credit (EUR) Acc +2.9% See the factsheet >     Tabula J.P. Morgan Global Credit Volatility Premium (EUR) Acc +4.0% See the factsheet >       1 Performance represents the iBoxx iTraxx Europe Bond Index       Contact us Send us a message Chat to us Call us on +44 20 3909 4700 Email us at IR@tabulaim.com Chat with us live on our website                                 Tabula Investment Management   6th Floor, Denham Building,  27 St James's Street,  London  SW1A 1HA       You received this email because you are subscribed to Fund-specific commentaries and news from Tabula Investment Management. Update your email preferences to choose the types of emails you receive.  Unsubscribe from all future emails   Important information This document is issued by Tabula Investment Management Limited (“Tabula”), authorised and regulated by the Financial Conduct Authority (“FCA”). Tabula is a private limited company registered in England and Wales (Registered no. 11286661). Business address: 6th Floor, Denham Building, 27 St. James's Street, London SW1A 1HA. 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This Presentation and its contents are confidential and must not be distributed or passed on, directly or indirectly, to any other person. This presentation is being supplied to you solely for your information and may not be reproduced, further distributed or published in whole or in part by any other person. No representation or warranty, express or implied, is made or given by or on behalf of the Company, its advisers or any of their respective parent or subsidiary undertakings or the subsidiary undertakings of any such parent undertakings or any of the directors, officers or employees of any such person as to the accuracy, completeness or fairness of the information or opinions contained in this Presentation and no responsibility or liability is accepted by any person for such information or opinions or for any liability, howsoever arising (directly or indirectly) from the use of this Presentation or its content or otherwise in connection therewith. No person has been authorised to give any information or make any representations other than those contained in this Presentation and, if given and/or made, such information or representations must not be relied upon as having been so authorised. The contents of this Presentation are not to be construed as legal, financial or tax advice. The information has not been verified nor independently verified by the Company’s advisers and is subject to material updating, revision and further amendment.The iTraxx European Performance Credit Index, iTraxx European Crossover Long Credit Index and iTraxx European Crossover Short Credit Index referenced herein are the property of Markit Indices Limited and are used under license. The J.P. Morgan Global Credit Volatility Premium Index referenced herein is the property of J.P. Morgan Securities PLC and is used under license. |
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