Pioneer Investments announces new subordinated debt strategy

Pioneer Investments has announced the launch of a new global subordinated debt strategy, which is intended to achieve high yield-comparable returns by investing in investment grade issuers

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TAGS: High yield bonds Investment grade credit

Comment by: Anonymous. Posted 1 year ago [2016-01-13 00:20:55]

While Pioneer does not need my advice, I'd point out that sub debt of banks can be rated many notches below the senior debt (for good reason - especially in the Eurozone). To call a typical bank an "investment grade issuer" may obscure the fact that the sub debt is deep junk.