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The subscription credit and fund finance markets have remained
relatively robust over the course of 2020, though the COVID-19
pandemic has presented certain challenges for market participants.
Growth in this area over the past few years was driven in part by
expansion of the product into a broader range of fund types,
increasing take-up by fund sponsors who had not traditionally used
the product in their fund families, record levels of fundraising
and an increasing number of net asset value (
NAV)
facility closings.
Overview
While certain banks have continued to increase their book of