gained media coverage the day after Thanksgiving, but not for its possible sale. The article, by Bloomberg
, was about Pioneer
Investments U.S. chief investment officer Kenneth Taubes' fascination with leveraged loans.
"We had been buying them in lieu of high-yield debt for a number of reasons," Taubes, who runs the $3.7 billion Pioneer Strategic Income Fund, told the pub.
"Here's an opportunity to buy something that doesn't give up much yield at all to protect yourself against rising rates and you're higher in the capital structure to boot," he added.
The fund currently has "the highest weight in bank loans in the 11 years I've been running it," Taubes said.
Armie Margaret Lee
Stay ahead of the news ... Sign up for our email alerts now