Leveraged bank loan versus high yield bond mutual funds

Ayelen Banegas and Jessica Goldenring

Since the financial crisis, the markets for Bank Loan (BL) and High Yield Bond (HYB) mutual funds (MFs) have grown significantly, with assets under management increasing from $19 billion and $75 billion to close to $117 billion and $225 billion, respectively, as of December 2018. This short paper characterizes the universe of BL MFs and compare it against that of HYB MFs on several dimensions. We document that BL and HYB MFsÃ

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Year of publication:	May 3rd, 2019
Authors:	Banegas, Ayelen ; Goldenring, Jessica
Publisher:	Washington, D.C. : Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board
Subject:	Junk Bond \| Junk bond \| Investmentfonds \| Investment Fund \| Kreditgeschäft \| Bank lending \| Kreditrisiko \| Credit risk \| Kapitaleinkommen \| Capital income \| Welt \| World

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Extent:	1 Online-Ressource (circa 25 Seiten) Illustrationen
Series:	Finance and economics discussion series. - Washington, DC : Board of Governors of the Federal Reserve System, ZDB-ID 2670319-1. - Vol. 2019, 047 FEDS Working Paper ; No. 2019-047
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper
Language:	English
Classification:	G2 - Financial Institutions and Services ; G23 - Pension Funds; Other Private Financial Institutions
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012181351