‘Dramatic growth in BBB space motivated our ‘Fallen Angel’ strategy’

Europe
On the 11.09.20 at 7:58AM

by

Tuba Raqshan

Paul L. Benson, head of fixed income efficient beta at BNY Mellon Investment Management, tells Asset News that while there were record number of downgrades from BBB into high yield between March and April this year, many managers find it difficult to navigate this space.
Paul L. Benson, head of fixed income efficient beta, BNY Mellon Investment Management

Two years ago, while managing their fixed income ETFs, Benson and his team started becoming concerned about recession causing larger downgrades from BBB into High Yield.

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