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Crystal & BK Funds
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We wanted to give you a brief update on the current market moves.
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The equity markets have reacted strongly to recent headlines, particularly the release of Trump’s tariffs on other countries. This has triggered some volatility and a shift in investor positioning.
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The credit market remains sane. While spreads were at their tightest for the last four years in late February, we are still below the levels seen in 2023 — a sign of underlying resilience. For example, BBB CLO tranches traded at a range of an 11% return in 2023, went to a 6% area in February 2025, and are now around 8%.
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As prices move, we monitor opportunities and have been cautiously and very gradually adding attractive profiles to our reinvesting vehicles.
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In the current context, we remain committed to launching our new fund, BK Opportunities Fund-9, in the coming weeks.
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Please let us know if you have any questions.
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This is not for distribution to, or use by, any person or entity in any jurisdiction where such distribution or use would be contrary to law or regulation. The information contained herein is for information only and does not constitute an offer regarding any product. The document has been prepared by Oristan Ireland DAC and the data have not been audited nor verified. Past performance cannot indicate future performance. There is no assurance that the investment objective will be achieved and investment results may vary.
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