One year after launching Europe’s first Triple A CLO ETF, LFI caught up with Miguel Ramos Fuentenebro, co-founder and partner at Fair Oaks Capital, to discuss progress of the Fair Oaks AAA CLO Fund (FAAA).

The discussion covered the CLO ETF’s performance to date, the expanding investor base, and how the ETF handled recent bouts of volatility. Other topics included potential growth in the European CLO ETF domain, Triple A buying opportunities, and the outlook for the Euro CLO market throughout the rest of 2025.

 

LFI: How has investor appetite for the FAAA evolved since launch?

 

Ramos Fuentenebro: At launch we saw interest mainly from investors already familiar with the asset class. Since then, demand has broadened to include multi-asset allocators, wealth platforms, and private banks who value floating-rate, Triple A exposure in a UCITS ETF…

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