Each fund is a diversified, closed-end management investment company and ISD was formerly known as PGIM Short Duration High Yield
Fund Inc, while GHY was formerly known as PGIM Global Short Duration High Yield
Less than $8 billion of high yield
debt from new issuers has been added to the list since the end of last year.
Sometimes, high yield
bonds adequately compensate an investor for the credit risk they're assuming and sometimes they don't.
bond funds, by contrast, suffered substantial outflows during 2017 and in all but one month year-to-date.
Jeffrey Chang will join as Co-Head of US High Yield
Credit Trading alongside James Nessel who joined the bank in August 2016.
Rowe Price Global High Yield
strategy, with USD 29.4bn in assets as of 31 December 2016 and led by industry veteran Mark Vaselkiv, has been closed to new investors since 2012.
In conjunction with the ETF launch, Solactive AG introduced the Solactive USD High Yield
Corporates Total Market Index, a market value weighted benchmark engineered to mirror the performance of High Yield
corporate bonds issued in USD.
Balanced Value Private Trust is now assuming responsibility for the high yield
fixed income components of these funds.
"At 5%, it's tough to call it high yield
," says Elaine Stokes, co-portfolio manager of the Loomis Sayles Bond Fund.
Although EM high yield
currently accounts for about 15 per cent of the global High Yield
market size, it is still highly under-invested as only two - three per cent of portfolios are invested in EM high yield
Corporate High Yield
index returned 9.19% annualized, versus 2.86% for the investment-grade Barclays U.S.
From April of 2009 to April of 2013, the two high yield
markets grew as follows: