"Tis but a scratch." That's the famous line spoken by the Black Knight in Monty Python and the Holy Grail as he stands with one arm chopped off while facing off against King Arthur in the woods.
The business of debt-backed bonds is, of course, a world away from that of British surreal comedy, but - if you will allow me to make the comparison - collateralised loan obligations (CLOs) showed the same resilience in 2020 (just as they did in 2008) before switching movie genres for the sci-fi sequel in 2021: ESG lightspeed 1.0. And as we head into 2022, the introduction of the EU's Sustainable Finance Disclosure Regulation (SFDR) has set the scene for ESG lightspeed 2.0 with the impending emergence of CLOs structured as Article 8 funds. Indeed, the demand from investors for Article 8 ...
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