Sector developments and company hires

MPL platform ends note programme
LendingClub is winding down its retail note programme and has ceased accepting new accounts. The platform says it is no longer ‘economically practical’ to continue offering notes as it moves towards becoming a full-spectrum fintech bank. PeerIQ notes that the move is unsurprising, given that the programme exposed LendingClub to potential conflicts of interest and invites regulatory scrutiny from the US SEC and CFPB.

In other news…

ABS fund launched
Janus Henderson Investors has launched the Janus Henderson Asset-Backed Securities Fund, which aims to deliver strong risk adjusted returns through a broad range of ABS investments. Opportunities offering secure income and downside resilience over market cycles will be identified. The fund is available in a UCITS structure and will primarily be sold in the UK.

Colin Fleury, head of secured credit, will manage the fund strategy alongside portfolio managers Ian Bettney and Dennis Struc. They will be supported by a global team with experience in investing, originating, rating and structuring debt.