TY - JOUR T1 - Accessing the Loan Market through a Passive Exchange-Traded Vehicle JF - The Journal of Index Investing SP - 57 LP - 61 DO - 10.3905/jii.2015.5.4.057 VL - 5 IS - 4 AU - Joseph Becker Y1 - 2015/02/28 UR - https://pm-research.com/content/5/4/57.abstract N2 - In recent years, as investors have pursued higher yields while also looking to manage exposure to the prospect of rising interest rates, senior loans have become an increasingly sought after segment of the fixed-income market. Strong flows into loan-related products in recent years have provided incentives for loan market participants to continue to move toward greater market efficiencies. A significant step in that direction was taken in March 2011 with the launch of the first senior loan exchange-traded fund (ETF). By offering the ability to buy and sell a portfolio of loans at or near its net asset value throughout the trading day, this product innovation is enhancing the liquidity of investor exposure to senior loans.TOPICS: CLOs, CDOs, and other structured credit, exchange-traded funds and applications, passive strategies ER -