The market for floating-rate bank loans has grown significantly over the past decade and now stands at about $1.2 trillion, approximately the same size as the high-yield debt market. CIO spoke recently with MetLife Investment Management (MIM) bank loans portfolio manager, Matthew McInerny, and head of high yield, Timothy Rabe, to find out why the asset class is in such demand and how institutional investors can take advantage of its current dynamics.
As ESG requirements increase the scope of investment operations, asset owners face the need for scale, capabilities, and transparency.
Shifts in market structure since the global financial crisis have led to changes in the behavior of credit spreads, which may provide opportunities for active managers.
Research-driven insights and opportunities for institutional investors
As we enter the New Year, we expect many CIO readers are taking stock and preparing for meetings to formulate strategy for 2021 and beyond.
Bundling may help plan sponsors unlock alpha potential and supplement low returns from long Treasury bonds.
Liquidity issues and other business risks could prompt a wave of defaults and restructurings, in turn creating fertile ground for opportunistic investing in distressed credit.
Finding value and managing risk in emerging markets debt often means seeking opportunities beyond the constraints of a broad market benchmark.