NEW YORK (AP) — The money manager's job is supposed to be straightforward: Take people's cash and put it to work. The more money that comes in, the bigger the manager's paycheck.
So why would two of the country's largest fund managers tell would-be investors in junk bonds, the common name for bonds issued by companies with the lowest credit ratings, to go away?
The short answer is that it's for their own good. The market for junk bonds, the pros say, has become so popular that it's dangerous.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
