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 Fund Inc.
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.
High yield 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 bonds.
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:
