Q. Prudential M&G has launched the first pure leveraged loan fund in Europe. Could you briefly explain the rationale behind the launch and how this will benefit investors?
A. Leveraged loans are the best-kept secret in fixed income but, as the market has broadened beyond the commercial banks, their track record in Europe has become more public. We have been investing in the market since 1999 - we have bought nearly EUR5 billion of loans in that time - so we know its merits for ourselves: high