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OXLCP - MLP And CLO CEFs Get Crushed: There Could Be More Pain To Come
Oxford Lane Capital Corp - 6.25% PRF REDEEM 28/02/2027 USD 25 - Ser 2027
It is no surprise to many of my followers that we have been bearish on energy and CLOs. The risk for the amount of return in the two areas of the market were far too great. For master limited partnerships ("MLPs"), they are an extension of the energy complex and we believe they are a flawed structure.
While the MLP is, in theory, not supposed to be influenced by the price of the underlying asset; in this case oil, it obviously is. We are told countless times that MLPs are simply toll collectors as oil