ETFs no match for HY market, says Alliance Bernstein research

By Victor Jimenez
01 Aug 2017

Returns data shows passive funds are lagging their active counterparts in the European high yield bond market, investment firm Alliance Bernstein said in a report on Tuesday. But active fund managers expect passive money to grow.

Many investors have turned to passive funds as they increase their exposure to corporate high yield bonds among other fixed income markets. Exchange-traded funds (ETFs) are particularly in vogue, said Alliance Bernstein.

But they are proving an imperfect fit to rip the best returns from the speculative ...

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