{"id":6840,"date":"2026-03-09T16:21:54","date_gmt":"2026-03-09T15:21:54","guid":{"rendered":"https:\/\/seahawk-investments.com\/lang-en\/?p=6840"},"modified":"2026-03-09T16:21:58","modified_gmt":"2026-03-09T15:21:58","slug":"seahawk-credit-opportunities-fund-factsheet-february-2026","status":"publish","type":"post","link":"https:\/\/seahawk-investments.com\/lang-en\/2026\/03\/09\/seahawk-credit-opportunities-fund-factsheet-february-2026\/","title":{"rendered":"Seahawk Credit Opportunities Fund \u2013 Factsheet February 2026"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.27.5″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.27.5″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.27.5″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.5″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

General Market Review<\/span>\u00a0<\/strong><\/p>\n

Global equity markets encountered a more difficult backdrop in February. U.S. indices came under pressure as political and geopolitical events unsettled investors. The S&P 500 slipped by 1%, while the tech\u2011focused NASDAQ fell by more than 3%. Sentiment worsened after a landmark U.S. Supreme Court decision declared President Trump\u2019s key tariff initiative unlawful and as geopolitical tensions surged, with the United States entering a military confrontation with Iran toward the end of the month. Expectations of prolonged instability in the Middle East pushed oil prices higher throughout February.<\/p>\n

On February 20, the Supreme Court upheld lower\u2011court rulings confirming that the power to impose broad tariffs lies with Congress rather than the executive branch. While the decision leaves the roughly USD 170 billion in existing tariff revenues untouched, it introduces considerable uncertainty into the future direction of U.S. trade policy. Many of the administration\u2019s trade agreements\u2014largely structured around either the threat or imposition of tariffs\u2014may now require renegotiation. Markets responded cautiously as investors reassessed the outlook for U.S. domestic and foreign policy.<\/p>\n

The fourth\u2011quarter earnings season was robust. Companies in the S&P 500 reported year\u2011on\u2011year earnings growth of 14.2%, the fifth consecutive quarter of double\u2011digit gains and well above earlier expectations of 8.3%. Meanwhile, the U.S. economy expanded at an annualized rate of 1.4% in Q4 2025, according to the latest estimates. Growth was partly constrained by reduced government spending following the 43\u2011day federal shutdown in October and November.<\/p>\n

Labor market data for January showed an increase of 130,000 jobs, driven mainly by hiring in the healthcare and construction sectors. The Federal Reserve did not hold a policy meeting in February; attention now shifts to the upcoming FOMC gathering on March 17\u201318.<\/p>\n

U.S. Core Consumer Price Index data came in lower than expected for January, with year\u2011on\u2011year inflation easing to 2.4% from 2.7% previously.<\/p>\n

Yields on 10\u2011year U.S. Treasuries fell by 29 basis points, from 4.23% to 3.94%, while 10\u2011year German Bund yields declined by 19 basis points, from 2.83% to 2.64%.<\/p>\n

The MSCI World Index rose by 0.73% in USD terms, and the MSCI Europe Index gained 4.05% in EUR terms.<\/p>\n

Portfolio Management Report<\/strong><\/p>\n

High\u2011yield risk premia increased modestly, with U.S. HY spreads at 291 bps and European HY at 279 bps. The spread widening move was moderate at overall spread levels remain low by historical standards.<\/p>\n

The Nordic high\u2011yield market posted another solid month, returning 0.8% in February and bringing year\u2011to\u2011date performance to 1.8%. Excluding the 20 largest positive and negative contributors would have added 15\u201320 bps to returns, largely reflecting issuer\u2011specific developments. Price gains among top performers were more muted than observed through most of 2025. Oil Services and Shipping led sector performance with returns above 1%, while most other sectors delivered between 0.5% and 0.8%. The E&P segment lagged due to a sharp repricing of Lime Petroleum\u2019s two bonds. Index spreads remained broadly stable, closing the month at 484 bps.<\/p>\n

Name\u2011specific adjustments were evident, with Lime Petroleum, Sigma Holdco, and SGL Group exerting the greatest drag on returns and spreads. Overall, secondary\u2011market spreads remain well anchored and broadly in line with primary\u2011market levels when adjusted for duration. Index yields stand at 7.7%, around 55 bps below the average coupon. Primary\u2011market volumes reached EUR 1.3bn across 17 transactions. Average primary spreads widened significantly to 621 bps, reflecting greater risk differentiation. First\u2011time issuers accounted for 55% of volumes and priced at materially wider spreads than repeat issuers, underscoring a more selective investor environment. The primary market remains open and supported by strong cash balances in bond funds, but investors are cautious toward lower\u2011quality transactions, consistent with a view that selectivity is warranted at this stage of the credit cycle. Many funds continue to hold elevated IG allocations, suggesting room to rotate into HY should valuations become more attractive.<\/p>\n

During the month, we increased the fund\u2019s exposure to Oil Exploration & Production by participating in Panoro\u2019s USD 150m secured bond issue, offering a yield\u2011to\u2011worst of 9.5%. Panoro Energy ASA is a Norwegian\u2011listed independent E&P company with production, development, and exploration assets across Africa. The company has agreed to acquire a 40.375% stake in Block G in Equatorial Guinea for USD 180m. To finance the transaction, Panoro tapped its existing USD\u2011denominated bond maturing in December 2029, bringing the total outstanding amount to USD 300m. In addition, the company raised approximately USD 49m in new equity to support the acquisition. Following the transaction, net debt stands at USD 172m, corresponding to a leverage ratio (net debt\/LTM EBITDA) of roughly 1.23. The bonds represent the company\u2019s only first\u2011lien debt, secured by its main asset\u2011holding subsidiaries and protected by a negative pledge restricting security over non\u2011core assets.<\/p>\n

For more information, you can find our latest\u00a0 Factsheet \u2013 February 2026.<\/strong><\/a><\/p>\n

\n

Seahawk Investments GmbH<\/span><\/strong><\/p>\n

This document is a customer information (\u201cCI\u201d) within the meaning of the German Securities Trading Act (WpHG), the \u201cCI\u201d is directed exclusively to professional clients within the meaning of section 67 WpHG (natural and juristic persons) with habitual residence or registered office in Germany and is used solely for informational purposes. This \u201cCI\u201d cannot replace an individual investment- and investor-friendly advice and does not justify a contract or any other obligation. Furthermore, the contents do not constitute investment advice, an individual investment recommendation, an invitation to subscribe for securities or a declaration of intent or a request to conclude a contract for a transaction in financial instruments. Also, it was not written with the intention of providing legal or tax advice. The tax treatment of transactions depends on the personal circumstances of the respective customer and may be subject to future changes. The individual circumstances of the recipient (including the economic and financial situation) were not taken into account in the preparation of the \u201cCI\u201d. Past performance is not a reliable indicator of future performance. Recommendations and forecasts are non-binding value judgments about future events and may therefore prove to be inaccurate with respect to the future development of a product. The listed information refers exclusively to the time of the creation of this \u201cCI\u201d, a guarantee for timeliness and continued correctness cannot be accepted. An investment in mentioned financial instruments \/ investment strategy \/ securities services involves certain product specific risks \u2013 e.g. Market or industry risks and risk in currency, default, liquidity, interest rate and credit \u2013 and is not suitable for all investors. Therefore, potential prospects should make an investment decision only after a detailed investment advisory session by a registered investment advisor and after consulting all available sources of information. For further information, please refer to the basic information sheet (PRIIPs) and the securities prospectus for free: https:\/\/seahawk-investments.com\/fonds\/. The securities prospectus is provided to you in English and the basic information sheet in German. The above content reflects only the opinions of the author, a change of opinion is possible at any time, without it being published. The present \u201cCI\u201d is protected by copyright, any duplication and commercial use are not permitted. Seahawk Investments GmbH is authorized to provide financial portfolio management, investment advisory services, as well as investment mediation and contract brokering in accordance with Section 15 Paragraph 1 in conjunction with Section 2 Paragraph 2 Nos. 3, 4, 5, and 9 of the WpIG (Securities Institutions Act) and is subject to supervision by the Federal Financial Supervisory Authority (BaFin). Bundesanstalt f\u00fcr Finanzdienstleistungsaufsicht (BaFin) Marie-Curie-Stra\u00dfe 24-28 D-60439 Frankfurt am Main. Editor: Seahawk Investments GmbH, Bettinastra\u00dfe 62, 60325 Frankfurt am Main.<\/p>\n

Foreign Exchange Fluctuations may have a negative impact on performance results.<\/p>\n

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General Market Review\u00a0 Global equity markets encountered a more difficult backdrop in February. U.S. indices came under pressure as political and geopolitical events unsettled investors. The S&P 500 slipped by 1%, while the tech\u2011focused NASDAQ fell by more than 3%. Sentiment worsened after a landmark U.S. Supreme Court decision declared President Trump\u2019s key tariff initiative […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1,22],"tags":[],"class_list":["post-6840","post","type-post","status-publish","format-standard","hentry","category-allgemein","category-news"],"yoast_head":"\nSeahawk Credit Opportunities Fund \u2013 Factsheet February 2026 - Seahawk Investments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seahawk-investments.com\/lang-en\/2026\/03\/09\/seahawk-credit-opportunities-fund-factsheet-february-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seahawk Credit Opportunities Fund \u2013 Factsheet February 2026 - Seahawk Investments\" \/>\n<meta property=\"og:description\" content=\"General Market Review\u00a0 Global equity markets encountered a more difficult backdrop in February. 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