Carador Income Fund’s investment objective was to produce attractive and stable returns with low volatility compared to equity markets, by investing in a diversified portfolio of equity and mezzanine tranches of CLOs and senior tranches of cashflow CLO transactions backed by senior secured leveraged loans. Carador, through its investments, has exposure to a diversified portfolio of primarily senior secured loans, financed on a term, non-recourse, non-mark to market basis.
On 17 December 2018, two EGMs of the Company were convened at which: (a) shareholders holding US Dollar Shares approved changes to the investment objective and policy of the Company to facilitate and authorise the Board to instruct the investment manager of the Company to effect a managed wind-down of the portfolio attribute able to the US Dollar Shares; and (b) shareholders of the Company approved amendments to the constitution of the Company to provide for the termination of the Company before 2022. The US Dollar Shares and Repurchase Pool Shares were fully redeemed on 16 July 2020 and de-listed from the LSE on 17 July 2020.
The fund’s website can be found here.