AXA IM has published the Volta Finance Limited (LON:VTA) monthly report for October 2024. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).
Performance and Portfolio Activity
Dear Investors,
Volta Finance recorded a net performance of +4.3% in October bringing the year-to-date return to +18.4%. This performance was primarily achieved via our CLO Equity exposure that generated strong distributions while prices remained broadly flat.
In terms of market activity, it felt like October displayed evidences of a “transition month”, placed in between a very busy post summer run and the US presidential elections. The month was far from being non-eventful though, as the ECB reduced its depo rate by another 25bps to 3.25% while it became very clear that the Fed would cut its main rate by 25bps as well – which eventually happened early Novembre. Data dependency remained the preferred approach for both the Fed and the ECB despite both jurisdictions taking different paths in terms of employment, retail sales and company earnings.