Fed up with your index? Not able to find the credits? Just create your own! This is State Street Global Advisors’ solution to the problems of investing in the high-yield universe.
The Boston-based firm has introduced a high-yield bond index, developed with Lehman Brothers, on which it will base new investment funds.
“We’ve seen a lot of pension plans in the US and UK with bad performance – they don’t yet want out of the credit market, but they do want credit exposure with lower volatility and