Blog

Bank building

CLO Hysteria: Fact versus Fiction

Ten years have passed since the financial crisis and many pundits are using this arbitrary anniversary to prognosticate the next great financial calamity. This week, CLOs take their turn in the spotlight.

Markets electronic board

Widening Senior Loan Spreads Offer Value

Despite increasing credit risk, we believe loans will dampen portfolio volatility this year, much as the asset class did in 2018.

Wave

The BBB-Rated Expanse: A Mass of Fallen-Angels or a Gentle Giant?

Headlines only focus on leverage—but there’s more to the story.

Is It Too Late to Buy High Yield? Rebuttals for 3 Common Arguments Against the Asset Class

April 13, 2017

Many “experts” have recently warned of impending doom in the high yield bond market. High yield returns have certainly been impressive since the energy- and commodity-led sell-off of late 2015/early 2016, but our view of today’s economic and market landscape doesn’t lead us to the conclusion that the end is near. Rather, we find reasonable value in the market and used the March sell-off to add high yield exposure.

Read More

The Great Target Date Debate: Active or Passive?

March 14, 2017

Active or passive? It’s one of the biggest decisions facing plan fiduciaries evaluating target date strategies. Yet too often this complex decision is boiled down to a narrow discussion about fees. But what does empirical evidence have to say about going active versus passive? The answer – it depends.

Read More